No. But we are getting close. If Gov and Fed let AIG fail, then that's it. Run for the hills.
Seriously, Fed and Treasury missed an opportunity to inject liquidity, so badly needed liquidity into the system. Now deflation, from theoretical possibility, becomes reality. If AIG fails, we are going Japanese road. Sad.
No trades today. I don't think financials selloff is done. Maybe I'll buy Wells Fargo. Not sure though.
Cash is the king. Tech might be the shelter. Google didn't fall that much today and still above the point I bought it lately.
We'll live. The question is: how?
Full disclosure: at the time of publication author had a long position in Google and no positions in other stocks mentioned. Positions can change any time.
Disclaimer: This article is not intended as an investment advice. Every person should make her/his own investment decisions based on all available information and advice from her/his own financial advisor.
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