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Friday, February 01, 2008

The meltup???

So, the market is up over 600 points since my dire predictions of imminent fiscal collapse. I am reminded of one of my "quotable quotes" by John Maynard Keynes, "The market can remain irrational longer than you can remain solvent."

However, in the long run, being short this market is good, as is being long gold/silver. (Gold is up over 13 dollars this a.m. as I write this, and silver is up another 33 cents). I am convinced that this is a dead cat bounce and that the DOW has yet a long way to fall.

Never bet the farm on a short term play.

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