the markets continue their perpetual death spiral, the whole ugly mess circling the drain. We keep at it we're going to crush the lows set back in '03. Another ugly week to an ugly month to an ugly quarter to what is ending up to be a very ugly year.
More funds continue to announce major losses. More firms speculated to be on their way out of business. One thing to note: there is a ton of cash on the sidelines. To prepare for
redemptions, managers have been selling equities and raising cash. Some multi-billion dollar funds are down to several hundred million in positions and the rest in cash. When the tide turns and who knows when that will be, the cash will be put to work. For the meantime, there are still plenty of opportunities to the short side as stocks continue their free falls.
On the bright side, it's getting cheaper to fill up that SUV each week.
Someone once said that the best and brightest opportunity exists in the darkest and most depressed period. Are we there? Yes we are.
Happy Thursday - get prepped for a short and sure to be volatile week upcoming.
DJIA 7,552.29 -444.99
NASDAQ 1,316.12 -70.30
SP500 752.44 -54.14
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