7/16/08 (No More Shorts! CPI, The Bottom?)

Published: July 16, 2008, 9:29 am

Traders,A funny thought crossed my mine in conversation with a friend yesterday, we had talked about the top in the market (housing, stock, etc) when the last guy in the food chain (the teenager working at the local coffee shop) is giving you a Tip. It happened to me in San Francisco back in 2005 when in a coffee a shop the employee was studying for the Real Estate brokers exam and then proceeded to give me a Real Estate Investment tip I knew that was the top (just like the JP Morgan story when the shoe shine boy gave him a stock tip he went in and sold all his stocks before the crash realizing the shoe shine boy is at the bottom of the food chain who is left after him). Anyway I have heard the last couple days, brokers and financial advisors talking about getting out of equities! What you mean the long and wrong strategy isn't working anymore? Sorry to be so harsh but come on. Just like the shoe shine boy and coffee shop employee giving stock and

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