Monday, January 19, 2009
Will mayhem begin?
This is an unusual post for this blog - short and an attempt to 'call' the market - but given the comments, reportedly, given on RTE today by Mr Lenihan, I would venture to attempt to predict this week's start of trading (6 hours 30 min from now). With the Government once again faltering at the banks recapitalization policy and talking gibberish (with RTE reporting that "Brian Lenihan said each bank had to take responsibility for its own bad debts"), it is difficult to see how we can avoid another deep meltdown in the markets. I hope I am wrong, but today might be the first Black Monday of 2009... Stay safe, ye all who trade today!