Wednesday, August 29, 2007




Video: Dow sinks on economic worries

This video is a Reuters News report following yesterday's fall in the Dow.

CLICK HERE TO VIEW THE VIDEO

4 comments:

Anonymous said...

And of course, as of 1pm today it's back up because of "all the bargains!"

Scoop up all those bargain stocks out there with overinflated earnings that were driven by consumers spending all that HELOC money.

These idiots that are calling stocks "cheap" or "bargains" don't seem to realize that most of the surge in consumer spending that has driven almost every company's record earnings over the last 6 years is directly tied to the "wealth" that was created by the housing boom.

Inversely, most of that wealth will be destroyed in the real estate collapse.

A recession is pretty much in the bag at this point.

August 29, 2007 at 12:58 PM
Anonymous said...

You should just short the market and make big $$$$ MR. Genius!

August 29, 2007 at 5:09 PM
Anonymous said...

"You should just short the market and make big $$$$ MR. Genius!"

I wish it were that simple. As schizophrenic as Wall Street is, I'm staying out of this mess.

The main point of my post was that bad things are coming. 90% of the financial news lately is bad. Yet the markets rally in spite of it. If that doesn't tip you off, I don't know what will.

I can't say there won't be some "sucker's rally" coming on a Fed rate cut. The bottom line is, investing in stocks right now is very risky. Stocks that seem like "bargains" on paper may not appear so in the very near future.

If you have any money you can't afford to lose in the stock market, you should get it out now.

August 29, 2007 at 6:51 PM
Anonymous said...

Mr. Genius!

Look, I am very realistic here, we just do not know the future. The stock market is so volatile, I would( and I am) only in for the very long haul( I used to be a day trader 7-8 years ago). Things are very confusing: weak dollar, big budget deficit, a war that we can not win, but can not walk away at the same the ( catch22) . High oil price, inflation that is more than what they say.... I can not figure it out!

August 30, 2007 at 1:02 AM

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