June 23 (oh boy here we go again, panic in the street)

Any way so here we go.....last week was a rough week for the average investor. Wall street and just about every media outlet felt that the lows of March were our bottom in the market. Both the wall street journal and Barron's had articles arguing that the slump was over, but again they had it wrong. Congress is calling emergency sessions to fight the battle against Oil speculators, and they have it wrong too. Like i said two weeks ago, oil was going to keep on climbing (bubbles never are always longer lived than anyone can speculate) and until the price of oil calms down and the credit crunch begins to subside the market is still going to limp along. But don't worry, like i said in my email last week, the price of oil is going to climb and more and more people are going to start crying that we are in a total recession. So what do we do? well we wait, as more and more people figure out that times are tougher than they want he market is going to retreat lower and lower. how low is the market going to go? by my calculations we are going to retreat another 10% in the next few months. Ouch!!! But don't stress, remember i told you that this was coming, and more pain is in the near term. so we need to go on the defense and wait for the great buying opportunities. Convert more and more of your profits into cash and not reinvestment. Now maybe the time to buy that house that you think you can flip.
cheers to all T