now that a bail-out has been agreed we would expect that the market would take an upturn tomorrow. maybe it will carry on for a few days. but that should be it. at some point it has got to hit home that all that has been focused on lately is the credit crisis, but actually the fundamentals are fucked. i would anticipate a downward movement that will gather apace. so next week is a good time to bet against the market. an exchange traded fund (etf) shorting the FTSE is a nice way of doing this.
September 29, 2008
a good time to bet
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