Elevator down

We may ramp higher into turkey day, but I think that ultimately we will revisit and fall below the 7800 Dow number we hit earlier. We are going to see massive job losses of epic proportions in the coming months and I think that a depression is not out of the question.

Fugly Times

Strange how we get a big rally today. What exactly is the market pricing in? A better than expected Christmas perhaps? I doubt that will happen but who knows. I am dealing with massive losses and wondering if indeed that long term investing is dead. I doubt that we will be seeing average annual returns of 10% in the future, unless foreign growth can remain strong. If the Gov does decide to tax 401k's, as unbelievable as I think that will be, look for a massive selloff as that style of investing will be badly damaged, in fact I believe that the stock market is badly damaged as shown by the performance of the S&P500 over the last 10 years. I fear we are heading toward a Japan scenario.