Thursday, February 19, 2009

The Bottom

Not to beat on the dead horse, but for the last few month I tried to communicate with my readers and people I know and care about that market is in the range, no matter how wide that range might be which signifies one and only thing - it is establishing the bottom.

Few weeks ago I set the date - options expiration week for February. As time went by I see more and more signs that we are reaching the bottom, bottom for buying solid companies at the rock bottom prices. Don't get me wrong - I am NOT talking of CitiGroup which is gone for shareholders (may be "C is a value Girl Karen Finerman still likes it - but I never cared much for her "professional" opinion or of any of CNBC clowns with hidden agendas)

I spent most of the day today talking on the phone and sending emails trying to convince my relatives, friends to buy, buy, buy. To buy solid companies in energy, commodities, semiconductors, transportation and so on fields - I hope I succeeded and they bought. At least Long/Ultra Long ETFs such as QLD, SSO, DDM, DBO, USO, UNG, OIH. (If you noticed UYG is missing from that list - for a good reason, as well as most emerging markets ETFs - except for EWZ may be)

The worst argument I can supply is that if market will continue to head lower after next week - none is going to need any money for a long long time - we don't really need money now for anything, but paying for brain dead dimwits who have plenty of free stuff now they should have never bought on the first place. I just hate to be FORCED to make charitable donation to idiots. Oh, well - I need to think "ulcers" and try not to think of how screwed all fiscally responsible people I care about are.


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