Belmont Club

By Richard Fernandez

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The circle closes

October 6, 2008 - 3:10 pm - by Richard Fernandez
sigintel
2008-10-06 17:54:56

after watching Wall Street’s angst playout today with the 800 point drop and 500 point roller coaster recovery, the market has been so tampered with by Washington that its unlikely for the market to stabilize until there is a 1000 point capitulation and the Presidential election is over. The short sellers want back in badly. For the Chinese, they see a “big picture” with a long time interval that Washington and Wall Street never see with quarter by quarter financial reporting and congressional elections every two years. The Chinese are going long while we are going short.