Great CNBC Interview

Wednesday, July 09, 2008

Great interview on CNBC today (paraphrased):

The problem is not today, the problem is yesterday. That's exactly what we don't need, we can't have those kind of rallies. It needs to go down 300 for the market, next day down 300, next day up 20, then down 300, then we'll get this done. But, the hope is alive. As long as the hope is alive, the bear market is very much intact.

Trading strategy is actually to accept the concept of avoidable loss. You don't have to be in the market. Many people are not in the world of short selling...if you're not in that world just stay flat, stay out. Don't be tempted into thinking this is cheap, that is cheap.

~Carter Worth (Oppenheimer & Co)


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