Use Today as a Selling Opportunity

As we approach the end of the first quarter who will find that a number of shares will be pushed higher by portfolio managers to boost their performance. What will be interesting is that no one will call foul and look for the rumour mongers when shares are pushed higher but just let one share (read HBOS) be manipulated down and it is the end of the world - Just the way of the world I am afraid. Both actions are illegal and fraudulent but only one is punishable. It really looks like the "Credit Default Swap" CDS market is about to blow up, the companies that have been writing these insurance premiums have no way of ever paying up should they be called to do so. FGIC has admitted that they don't have the required capital to justify their Insurer status and if taken to the logical conclusion means that they are no longer an Insurer - This means that there policies are worthless. The problem is that all the banks and I mean all are still using these policies to back up their balance sheet liabilities. The banks are all insolvent at present. This is something that ypu wont read in the financial press or hear from the pump monkeys on Bloomberg and CNBC> As this rally is definitely in its final stages I urge everyone to exit any exposure they have to equities, especially banking shares. The market is only some 12% off its peak and has a long way to go. I have revised my downside target on the FTSE to 4700 now. Sell - You have been warned