Friday, October 24, 2008

Bad News

Prepare yourselves for a historical market crash, starting today we are going to experience a continuation of the downtrend of previously unseen proportions. Sadly, on July 11, 2007 I wrote in this blog about some rough times ahead; I did not follow my own advise thinking that it would be a short term correction and remained invested. Here we are fifteen months later and facing a worst case scenario.

If you are long in the market, there's nowhere to go, run or hide, we are going to be punished like never before.

A suggestion, take a deep breath, don't panic and ride the storm. At this time, and for the next two to three weeks (after the election), I would not put any more money in the market. There will be buying opportunities later on.

Best of luck to all of you.

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