16 October 2008

Charts in the Babson Style for the Morning of 16 October

The LAST hour of trading is proving to be the most important of the day.

The hedge funds are in a massive unwinding of positions.

The Paulson plan does nothing in the short term to help the economy or the markets.

It is more like an outsized 'perk' than an economic 'plan' with a narrow and somewhat selective list of recipients.

"Those entrapped by the herd instinct are drowned in the deluges of history. But there are always the few who observe, reason, and take precautions, and thus escape the flood." Antony C. Sutton