TSG – The 2-ton Wall Street conflict of interest…

Dear Trader,

TSG Stock Market Letter
Week Ending September 5, 2008

Topics Discussed This Week:

* The 2-ton Wall Street conflict of interest few dare to mention
* While leaders drop again
* Earnings: It’s official…
* Construction spending, manufacturing, services still falling
* Job losses and unemployment mount
* Home prices – near a bottom or a … Dear Trader,

TSG Stock Market Letter
Week Ending September 5, 2008

Topics Discussed This Week:

* The 2-ton Wall Street conflict of interest few dare to mention
* While leaders drop again
* Earnings: It’s official…
* Construction spending, manufacturing, services still falling
* Job losses and unemployment mount
* Home prices – near a bottom or a bear break?

September lived up to its terrible reputation in the worst week
for stocks since May. It was the worst beginning to the month
since World War II. But that hasn’t stopped an army of pundits
playing their favorite game especially when stocks get clobbered.

Bottom picking continues to attract analysts like moths to a
flame as they shamelessly, almost desperately talk their books.
Attempts to justify their high fees for losing their client’s
money shouldn’t fool anyone but it probably does if the
popularity of this practice is any indication. And the more
depressed stocks get, the more intensely they compete in this
game.

As I write this I’m watching Barton Biggs on Bloomberg. “We’re
pretty close to a bottom,” he says clearly uncomfortable on
camera. He believes we are in a cyclical bear market but if it
turns out to be a secular bear, ventures that “prices could go lower.”

Who is he trying to kid? That’s like the captain struggling to
keep his ship afloat after being torpedoed in a storm, telling
his crew that if the ship explodes they could be in trouble.

Maybe Biggs is right about being near a bottom, but what if he’s
not?

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To read this week’s STOCK letter, please go to
http://tradesystemguru.com/content/blogcategory/34/68/
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