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July 27, 2007

Comments

Greg

Hmm - In this at least I agree with you - the media is a crock !
It is a herd mentality and the trouble is - everyone gets to believing the hype eg. the market is going up or whatever - you have to laugh in a way - why do you want to tell everyone to buy - so you can sell at a better price of course. I said a week ago - and the info was a week old then, the SPI MACD weekly had crossed down - like helloooo.
The trouble is with media is that it blinds you to the reality of the chart in front of you or the fundamentals (for what they are worth). Been here before - been burnt before - now watch over my shoulder not the media :)
Hope you guys didnt get mauled to badly - for the record while i was sure this falling knife was coming, I stood aside. NOW Im looking to buy on the turn BUT Im not gonna pick a bottom - yet - regardless of how good the banks, financials, commodities or whatever Im being told looks good :)
And yes I wish I had sold as well - but I took the cautious road.
Oh, (simplistic I know) - stocks/funds are held in multiple exchanges across the world - so when a hedge starts its selling - & they were dumping contacts big time on our market first - its gotta start somewhere and then follows the time clock around the world - so it cascades - and all us sheep head for the same gate.
Who would be a hedge fund manager at the moment :)

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