This morning I made a comment that I thought the market would turn around and finish higher. With five minutes to go this looks like it will be correct, but so what? I didn't try to make money on that belief nor did anyone reading this site, I imagine.
The question is does this turn around mean something? Despite the turn around I cut back on my tech exposure about an hour before the close. I have been very underweight tech and that group seems to be sicker than any other sector. If I have more selling to do, the market action will help me with this decision.
I don't feel encouraged, maybe today was a capitulation but I doubt it. I have said before that I will be unlikely to bottom tick this decline and given how things have gone I would not be upset to lag a big woosh up if it comes.
Wikinvest Wire
6 comments:
I am encouraged by the news of the death of that murderous henchman of bin Laden. I was discussing with a friend of mine that we have to go back in history to the war with Japan to find an enemy of the US with such a lack of regard for human life and cunning tactics designed to inflict maximum harm on our country and troops. Japan invented Kamakazi attacks long before the Imam's started shaping young minds to commit suicide in the name of a sect of Islam. It took overwhelming force to subdue Japan. I hope my son will see the end of this type of violence in his lifetime. I think I will keep some exposure to arms manufacturers meanwhile... Tom in Indy
Tom in Indy -
Should I find it ironic at all that the overwhelming force used to subdue Japan involved the same technique of targeting civilians that these terrorists used?
I don't find it ironic. From a surprise attack before declaring war to mistreatment of POWs and civilians in occupied areas, there were numerous Geneva convention violations on the part of Japan. The step up in brutality of the Pacific Theater of WW II was a direct result of the enemy's own actions, which culminated in the actions you note.
War is hell to paraphrase someone from that era.
Sort of like how this war started in 1979 and has escalated to suicide bombers and kidnappings/murders targeting civilians.
"War is hell"- William Tecumseh Sherman, I believe
actually, systematic destruction of civilian populace began in the American Civil War by the Union Army.
"began in the Civil War"??? When Rome conquered Carthage, the male Carthagenians were made to plow salt into their farming fields th render them unusable, the females and children were enslaved and after the men were done with the salting of the earth they were executed. History has scores of examples of this type of civilian casualties. Killing these anti-civilization zealots is what is necessary to preserve what we have. Sherman said 'War is Hell' during the Civil War and later said 'The only good Indian is a dead Indian', Not my idea of a compassionate man, but one willing to do what was necessary to preserve the Republic. Sturm Ruger (RGR) has zero debt, has a book value around 4$ and trades a little over 6.00$. They suspended their dividend a couple quarters ago but should get a nice pop when it is reinstated. It is a nice play if you like to bottom feed. Tom in Indy
Post a Comment