Futures Indicate Freefall at the Open…Looking to Buy?
Posted on | October 10, 2008 Time: 1:20 pm |
With global markets in a concerted freefall overnight, the futures indications for U.S. markets scream capitulation. I am looking to spend 20% of my available cash this morning for the Secular Trends Portfolio. I just can’t get around the fact that a bottom gets hit today…
Today is Capitulation Day - keep your hats on as this wind will be blowing hard in the first two hours of the day. Basic Materials are going to get crushed, and that’s the first place I’m targeting for buys. THE PRICES YOU SEE TODAY MAY BE THE LOWEST EVER. Or, by Monday morning we’re all back to the stone age. Let’s hope it’s not a coin flip proposition…
Ryan Barnes
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