Sunday, April 5, 2026

August 26, 2008

Timeline

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July 8, 2008

Market Cycle

Below is a graphic of the cycle of market psychology.  It is my opinion that we are still in the denial phase.  There are many asset classes that I am bullish on.  Gold and Treasuries are two.  I am not bullish on US equities.  In my view there is more downside to come and we may be only half way through this decline.

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