|
|
|
The above graph shows the present state of the NASDAQ. It's not a pretty picture.
I remain at 100% cash. When I’m in this mode, I almost enjoy watching the market drop. I guess you could say it’s a little like watching a run-away train. You feel sorry for the people on it, but boy are you glad you’re not on board.
My take, for what it’s worth is that economy has hit a soft patch in the road and has slowed. My own thoughts are this could well be due to the high price of oil.
That said, I believe this market WILL come back some day, but who knows when. In the meantime, I will remain on the sidelines and keep my powder dry.
Cash – it’s a wonderful thing.
Posted by Ted at August 12, 2004 8:14 PM