It looks like we will have a nasty open today. LEH is under fire again this morning in the premarket. It looks like we are going to have another irrational day of FORCED LIQUIDATION. I may have underestimated the trouble that some of these hedge funds are in at this point. I intend to raise cash today if we open down---then I will sit back and pick my points. I am already over 50% cash and I may raise to 80-85%. I said a couple of nights ago that if we didn't hold the gains of Monday, I thought we would see DOW 10,000 and I think right now that is the most likely scenerio.
See my post from last night for an updated list of stocks to watch. I am watching for natural gas to stabilize and help XTO and CHK.
Thursday, September 11, 2008
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