Officially in the bear camp as I hedged all of my portfolios with gold and puts. I am also letting current longs expire as necessary. This one is going to be worse than 2008 as there is selling contagion between nations.
Now, I believe that information was leaked to someone last week of this downgrade and that is the real reason the markets made a u-turn for the worse. Small investors again get decimated as they do not benefit from that type of information. The SEC needs to investigate and make S&P life miserable from now on. Monthly raids are in order…
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I agree with your opinion that this could be worse than 2008. My girlfriend spoke to her Mom in Poland and they are freaking out because they don’t understand how the US can be “bankrupt.” It’s all over the news and I’m sure it’s similar in other countries.
Indeed…