You are currently browsing the daily archive for October 22nd, 2008.
I am traveling, and indulging in life-altering investigations.
So, my Blog posts may well be rare for a week or so.
Just a reminder that I am the Keynote Speaker at next weeks Radford University 2008 Entrepreneurial Summit.
Meanwhile, I am getting numerous emails and messages from people wondering what is happening with the financial markets.
The DJIA is down hard today. Most of the “investors” being discussed on MSNBC (NEVER believe any thing from that electronic rag) are foreign arbitragers, hedge fund managers and day traders (average age of 31 to 36 [and, this is a problem]). They had a role in the run-up from last week (and, are paying for it dearly). Now everyone is waiting to find out what happens with all the reporting (10-K, 10-Q) due out next week.
NOTE: The real bottom of the market could well reflect the true level of support market-insiders need to capitalize on the current mayhem.
That would be 7200.
Tough to swallow. But, the bottom range is probably 7200 to 8250. That’s an easy two days of trading like we have already seen this week. But, therein lies the real upside.
Interestingly, you will begin to see media support for stocks like Apple (that have been artificially repressed) because even the media is nervous about the damage they have enabled with poor and irresponsible reporting.
On the other hand, according to some buddies on Capital Hill, there are big short-term mortgage opportunities on the horizon for the average citizen (but, it’s all part of the looming long-term Fannie Mae scam) /1.
Peace be to my Brothers and Sisters.
Brian Patrick Cork
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1/ See my prior Blog posts “World War III – The War Against Financial Chaos” and “DJIA going to 8400″.
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