Wanted to address what I saw as a sentiment shift yesterday, if only for the day and my comments on it.Of course, handcuffs on a baddie is not going to change the entire market nor will people come out of the woodwork to plunk their money down to buy stuff in this market. And I also realize that technically, we were due for a correction as we have been waaaaay over sold.But we've been oversold for Weeks now, with no relief. So why yesterday? It is always the cumulative effect...all the little pieces in the market that create a shift. My comments about people who commit egregious fraud going to jail IS something that had not yet happened for anxious investors, until yesterday. Maybe no one was out buying like mad, but someone seemed to be covering shorts just in case and unlike many days/weeks before, there wasnt a pressing reason for joeaverageinvestor to be completely fed up with the market and make that call to finally sell the whole portfolio. We simply saw some relief, is how i saw it... and I think it might actually hint at how touchy and oversold the market is right now....if there could just be consistent, good news, some leadership, some sign that the problems are being addressed, we might have a rally to make everyone forget being gloomy.Another piece of news yesterday was the fact that congress and senate seemed to agree on a reform package. But today, there were a lot more questions about that.... how it would affect the market and the uncertaintly of having politicians interfere where they probably should not.Most people do not watch the stock market or even fed policy or government policy very closely. They have a *sense* that something is wrong. That there are bad people who need to be punished. But it will take a long time before enough information trickles down from the news to actually get the general public informed. There will have to be a series of positive moves by the higher powers to make a sentiment shift. I am an optimist, and I am hoping that they will, in fact, make some strong and decisiive moves to clean this mess up. But, suspicion.says leaders have had many opportunities to wake up and address this mess and they'll continue to just do nothing much. Many of us *used to be investors* cashed out a long time ago. But we've been watching things unfold closely. We are different than the average investor, but they are making some of the same decisions as we did..only months/years later.I think the ltb&h crowd is hanging tough for the most part. We've heard over and over that patience pays off. That to have faith in the market and the investor will reap good rewards for retirement. It's truely sad to think that the system might be so broken and get neglected for too long that that axiom may no longer be something to count on. Optimism has been the hallmark of the american way. It's hard to watch it be tested so thoroughly in the absence of any true leadership ~j
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