It is so funny that when markets are rising, everybody asks you to buy, and when it is falling everybody asks you to sell! One commentator who unabashedly acused another big investor of “luring” the poor investor into the market (when the index was 7000), then changed his mind to predict 25000, then changed his mind to say “this country cannot even make roads” is now on a campaign to say “markets will hit below 12000” and a lot of value buying opportunities will emerge. His luck is nobody records his comments!
So the most important thing to do now is change the channel and start watching Animal planet. I “watch” biz channels (let me call them ticker channels – cause that is the only thing is accurate? ). Nice to see young, pretty guys and gals making a fool of themselves – the TV is on mute, so it is enjoyable. If the sound was on, it would be harmful to my portfolio.
One channel did a “poll” and concluded that 40% of the brokers wanted to buy now – 60% wanted to sell or so he said. Did they even ask “did not know” as an option? I do not know. And what was the size of the poll? 10 brokers!! I did a sms poll amongst my friends – 22 of them and got a different answer! God bless the pollsters and the people who believe them.
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