My 1st Million At 33 – yes, you can do it too

The market is moving very fast that I’m going to do one more post for today.  Not to mention the fact that I just lost some very significant money in the last two days after Bernanke raised interest.

So what happened to the markets in general after Fed’s interest rate hike?  Market reaction actually is the worst that a Fed chairman can expect:

1. Dollar kept going lower, and Euro is getting very close to 1.29 level.
2. Gold went straight through $700 like there is no guard watching over it.  Silver seems to be going back to its old high.
3. Stock market had a skip of heartbeat.  Where is the Plunge Protection Team (PTT) that the conspiracy theorists talked about?
4. Both 10 and 30 years bond went down further.

When I read about Next LTCM on www.marketwatch.com, I start to be REALLY worried.  Especially on the last sentence, “Bernanke is rapidly losing control“.  That is exactly what I am observing in all market reactions.  I really put too much faith in Fed’s ability to monetize, or that the market is exceedingly weaker than everyone thought.  This is just NOT GOOD.  Stupid me.  I held on to my company holdings that are just published under “My Networth“.  And the last two days, I pretty much lost twice of my annual salary from my company holdings.

Seeing the recent new accounting errors from Fannie Mae, I fear that $US may be really hit hard once all accounting reports are disclosed in the second half of 2006.  If that happens, precious metals will probably go to stratosphere.  Forget about impending intermediate top forming in precious metal markets.  In those events, PM market will simply GAP UP, and possibly go to a vertical rising for a couple of days.  And that will be just the beginning of the $US doomsday.