The waiting is the hardest part
I was talking with a friend yesterday and he congratulated me for continuing with my blog. Interestingly enough, I was feeling a bit guilty for not writing more this month.
I am waiting for another leg down in the indexes of at least ten percent. It is my contention that the US consumer is dead and buried under a mountain of debt. Food and fuel costs are skyrocketing and any help the Federal Reserve gives by cutting interest rates drives commodity prices higher. Americans are just now beginning to learn how to cut their budgets and there is a lot of fat to trim away. Sometime Americans might start liking to save money and that will not be good for consumer discretionary in general, but for those companies that produce value at a price, life and profits will be good.
I am watching this level to see if we can break up, but I bought a some SDS at $58.90 because I don't think there is a chance it will.
I am waiting for another leg down in the indexes of at least ten percent. It is my contention that the US consumer is dead and buried under a mountain of debt. Food and fuel costs are skyrocketing and any help the Federal Reserve gives by cutting interest rates drives commodity prices higher. Americans are just now beginning to learn how to cut their budgets and there is a lot of fat to trim away. Sometime Americans might start liking to save money and that will not be good for consumer discretionary in general, but for those companies that produce value at a price, life and profits will be good.
I am watching this level to see if we can break up, but I bought a some SDS at $58.90 because I don't think there is a chance it will.
Comments