I hope your schedule is a light one on Monday. It could be an exciting day in the markets.
George Ure is asking the question that is on everyone's mind: Panic Next Week?
In spite of the headlines that the "Market Steadies" and "Stocks End Mixed after Raucous Week" my money is still on the downside going into next week. As I explained yesterday, the reason is the other shoe has yet to drop - when someone besides me (and a few executives in the banking world) gets wind of all the other places besides hedge funds where the 'toxic waste' that masquerades as investment grade paper has landed, it won't be pretty. You're not yet hearing about the write-downs in financial positions that will come as pension funds and college endowments are forced to "fess up" to their vastly overstated holdings..
George has a nasty habit of spotting those hard-to-see little IED's in life that tend to blindside most. It is always a great idea to pay attention to his analysis...