Here's one ibanker going crazy and I don't blame him for a second.
It looks like the failing economy is upon us. A recession is here and the two questions on everyone's minds are for how long and how deep.
Its really anyone's guess, but here are a few of my thoughts and indicators of note:
1. Yahoo is contemplating to layoff a buttload of people as we speak.
2. Bush and Bernanke can not comfort the United States, so how the hell will they comfort the entire world economy?
3. Its really late at night in New York, like 5 am and I should go to sleep soon.
4. The world markets are opening/closing this Tuesday anywhere from 5-10% down (Asia and Europe).
5. New York is really cold right now 25 degrees Farenheit, which leads me to believe that most bankers are going to be very bearish tomorrow (today in four hours when the market opens).
Will the world end? My sources point to a clear NO, however, if you have money invested, it would be a great time to move away from stocks and move towards ETFs. The market has taken a huge hit over the last three months since its late summer peak. The Downward Spiral that we are in may apex in the next 24 hours.
I am thinking about closing out a couple of positions and using that liquidity to buy on the cheap during the next week.