DOW 7500?

This market is going to be survival of the fittest. We don't appear to be getting anywhere in Washington. This economy is like a patient with a cancer diagnosis and the surgeon keeps putting off removal of the tumor. There is a chance with every passing minute that it will spread. The markets are going to sell off this morning and oil is headed down as well. The theme seems to be focus on the global slowdown with a mixture of the panic trade. If conditions continue to deteriorate and we get no help in the credit markets---we could see the Dow touch 7500 during the month of October. LIBOR rates are headed up rapidly and I promise that is going to hit MAIN STREET hard--very hard if no resloution is reached soon. So many investors watch the stock market without having a clue what is happening in the credit market. That may be OK during normal times, but these are not normal times. The credit situation is nothing short of a CRISIS.

I am basically sitting on the sidelines until we get some resolution to this crisis or we see a huge downward move. We will get back to our in depth daily analysis when the environment improves.