6 days ago I was negative on the Dow Industrials (INDU, rated SELL)
Posted on September 16, 2008 at 08:42 AM EDT
Now it is down over 500 points just yesterday. More names being added to the failure lists. The downtrend is still in place. Unknown factors keep popping up. All consumer prices are out of hand and the top of the cake, the whip cream & cherries is the Presidential election. If you visit any site for discussions regarding the election, such as TOPIX, you will see and read the most postings of angered, twisted, and most hateful statements made by Americans all across the United States. If Obama wins the election, there will be circumstances that will lead to Chaos, violence and unrest all across America. As I said 6 days ago, it is best to be in the sidelines with cash right now and let fruition play itself out. It has to get worse before it gets better.