This is why it feels so different this time. So many people have 401Ks and are pulling out of stocks recently and Hedge funds have forced liquidations. Heck I should been way more bearish in 401K account, and feel like going to cash now with all talk of Great Depression, Dow 6000. If everyone over 50 starts pulling out, we are all screwed. Maybe good strategy here is to short SPX and go long select strong defensive stocks like BUD, Johnson & Johnson Netflix, Baxter International.
Need capital gains exclusions for all financial stock bought for rest of year and held for 5 years. Need CEOs of S&P 500 to come and make joint statemnt that all exec are talking no salary and only stock as compenation.
Barrons TechAnalysis (10/08/08)
“It just makes no sense now to call a bottom — or to look for a significant decline ahead. We just don’t know how any indicator or assumption will fare since there has been nothing like the current market since at least 1987. Arguably, there has been nothing like it since 1929.”
