I must be some kind of nerd or something. Every day, about an hour before my alarm is set to jolt me awake, I am out of bed staring at the TV screen through one eye and reading the Journal through the other.

Growing up, I used to love reading stories about the famous deep-sea treasure hunter, Mel Fisher. He used to travel the seven seas looking for the world’s hidden fortunes. Every day, he would tell his crew, “Today’s the day.” For hundreds of days in a row, he was wrong. But that all stopped the day he laid eyes on the 17th century Atocha and its $450-million treasure chest.

For the past three weeks, I have anxiously beat the alarm clock as I tell myself, “Today’s the day.” But I am not looking for any underwater treasure. I am waiting for the markets to implode. Any day now, I will be right, along with every other analyst on the street.

Government intervention

The only reason the big day has not happened yet is because of the Federal Reserve’s so-called intervention. Unfortunately, all that Bernanke and his troops are doing is delaying the inevitable. Eventually, we will find out the federal assistance is doing more harm than good.

The equities markets are being pulled apart like a big ball of silly putty. The corporate earnings reports, data analysis and underlying economic laws pull with all their might in one direction, while the Federal Reserve, the banks, and the Bush administration pull with an opposite force. Eventually, the putty will snap and the markets will plunge.

Wall Street is already gearing up for the ride. Commodity prices are beginning to slow their ascent. The equities markets are making huge swings, showing great amounts of short covering and other technical manipulation. And the treasuries markets are ballooning, proving that a cash position holds more value than any potential upside on the equities market.

As an investor, you need to take action. The downside exponentially outweighs any upside to this market. If you are still heavily invested in the equities market and are going to need to cash in those investments any time soon for retirement, a new house or any other reason, get out what money you can.

Join the masses in the leeside of this credit-industry induced storm. Find safety.

Eventually I will no longer beat my alarm clock. I will be saying, “Yesterday was the day,” as I roll over and hide under the covers.

One thing is for sure. Today is the day you need to take action.

Andrew Snyder
Today’s Financial News