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10/10/2008 Archived Entry: "It's not being psychic, it's friggen obvious"
Well the Dow closed below 8000.
And while having my own 976 number would be great and make me a fortune. It would also be complete BS. The market is dropping because the financial situation has been riding on fantasy for years and not reality. Well reality came knocking and brought some thick neck goons with it. Time to pay the piper.
Now I am sure you are all asking is the market going to drop below 8000. Well actually today for a little while it did drop below 8000. So sure it could. However I don't expect this freefall to continue like it has been. It will continue to stay low but I doubt it will hit below 7000.
So now what? Scrounge every couch cushion you have. If you have any extra cash, it is time to buy. Buy and hold on. You will need to be patient for about 5-10 years. But there is money to be made.
