news from the front lines
posted on
Nov 20, 2008 05:52PM
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its not good friends, the last 2 days have been brutal, worse than a month ago. There is a new emotion or sentiment in the market that was not there the last drop.
Last month when the clients were calling in they were panicing and the people selling were the people who didn't have the emotional strenght to ride the drops. Nothing wrong with that, but its a group that is easy to identify and understand, they are mostly wrong. This week its different, the people I am selling out are the ones who have hung tight, expected things to be violatile, but had the steel to hang in there. Now they are selling. The reason they are starting to sell is the economy looks like its collapsing, the market is getting NO good news, and they feel it is getting worse. I have not seen this before with this group of investors.
My point is folks do not think for one minute this is not the real thing, its bad, FEAR is all over the market and if this does not turn around soon this could have long lasting effects toward peoples attitude and belief in the stock market. It would be like are parents and grandparents attitude after the depression, no trust. If the boys in Washington are waiting for a good time to crank the presses or get the PPT group going they better do it soon ha ha.
Another front line market indicator is, I am getting e-mailed stories from my fellow brokers about financial disaster, ruin, economic depression. Three months ago they laughed at all those stories, thought Peter Schiff was a total idiot, now they are coming to the realization that this is real and they are scared.
I don't know how this going to end, Tyhee, all my questions would be about Webb's plan for survival, burn rate, costs, and funding. There is no interest in equities, no momentum, no interest in gold equities. Phyical gold and silver yes, equities no. Don't kill yourselves watching this stock fall every day, its across the board in the markets. Our hope is almost out of our hands, its will Gold demand soar and drive the equities up or slow drawn out pain.
PS Strike love your last post please keep it up I know you understand