Tuesday, October 7, 2008

There's Lots of Blood Everywhere

If you have ever waited for one of those dare to be great moments, the next few days will be it. If a 20% decline in the sp500's constitutes "blood in the streets," then this is a good time to buy. There might be some despondent selling off the open, but if we don't bounce HARD tomorrow we're in for some serious trouble.

The VIX is at 53.68. Here is a disclaimer. I think the spyders have to bounce some time tomorrow or we're doomed. That being said, I have never been trading when the VIX is >50.

Stay alive to fight another day. This market is for long term buyers and traders.

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