You remember what happened a few Fridays ago when Bear Stearns went from 60 to 30? Do you remember?
Alot of greedy people bought at 30 thinking the sell off was overdone. On Monday, they were eating xanax bars for breakfast…..
Again, study past cycles and realize that an asset that has severely appreciated goes down in steps. We have had the first step and alot of people think the worst is over and are buying because “they don’t want to miss out” mentality.
Don’t be fooled we are only half way there my friends….the cancer spreads slow into every sector….
Ask all the people that work for Dell Computers in TX…..all 8800 of them that are going to be without a job for awhile how the mortgage payment is coming along….
You think Qualcomm is going to go unscathed from the major pull back in consumer spending???? Wait for the announcement in Q3.
