The coming week was the one I anticipated as being the right time to get back in the stock market -- after I got out of it last summer when the Dow was way over 12,000.
I also sold out of Wal-Mart at 61, for my mother's estate and my own. We made a nice and quick profit.
Now I view this week as possibly the worst one we'll have seen in quite some time. And Wall Street will not recover from the carnage of it for quite some time, perhaps even swallowing up all profitable fortunes for investors for 2009 -- except those who know how to trade individual stock.
Mutual funds will take another big hit. I'm predicting another 20 percent loss this year.
This week will bring the release of first quarter earnings for the nation's captains of industry, who will look like privates with company losses or very reduced profits they'll report -- and the poor outlook for earnings for the rest of the year.
So if you still have your money in the market and have ignored my warnings and those of much more credible sources, you may well lose through the nose this week. And you'll have no one to blame but yourself.
As for me, my money is going to stay in cash for a very long time until more of you have lost your fortunes. I'll also keep part of it in oil, as that commodity makes a price comeback with each Israeli advance in Gaza.
That may sound cold, but it is capitalism at its purest and most savage form.
Either learn the game, or get eaten by it. And remember, greed always kills.
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