Thursday, August 18, 2011

Another Leg Down?

Typical bear trend action. A plunge, a recovery on light volume where the TV crowd tells us all is okay, followed by the next plunge.

Will the lows hold or is this the next leg down?

So this is all because of Europe again? Or the realization that we may be in a global recession and governments are already running huge deficits?

Things will get very ugly for most of us if this is another recession. It's not like there is much slack in the system to absorb another round of hard times.

No changes in my portfolio. Still have cash, low beta stocks, and the QQQ and VB longs, plus oil. The latter three are ugly but not big plays. I think there is still huge upside for oil.

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