....for me it’s too late to sell, and too early to buy.
Market heads for the tank. Stops kick in. Panic ensues. Market closes by noon. OK! Now that the worst case scenario is out there, time for some realistic prognostication.
I understand Henry Paulsen was on CNBC at 8am. Anybody catch that? If so, what did he say?
I'm staying the course.
sw
AP >>”Dow industrials are set to drop 500 “
http://news.yahoo.com/s/ap/20080122/ap_on_bi_st_ma_re/wall_street
sw
http://corner.nationalreview.com/
Take Charge, Central Bankers [Larry Kudlow]
There’s a global stock market tsunami gathering force. It may hit U.S. shores very hard this morning.
Much of this is panic over a U.S. recession threat that has yet to clearly materialize. The world sell-off also vastly overestimates loan and credit problems among international financial institutions.
In any event, world central banks should immediately reduce rates and add liquidity first thing in the morning, no matter what the time-zone.
Fed head Ben Bernanke should have cut rates 50 basis points last week. He should do it first thing this morning. Then cut rates another 50 basis points on January 30.
Importantly, central banks must work together and cut rates together. They must coordinate to avoid major financial consequences. They must show investors, financiers, and business people that they are in charge.
In this deflationary environment, plunging commodities, stocks, and credit-risk-free government bond yields are all signaling central bankers to take charge. That means lower rates and more money creation.
Pronto.
01/22 07:32 AM
FWIW, I’m not selling, just riding out the correction. In my experience the market always recovers. You don’t lose unless you sell. That’s just my opinion.
I submitted my stop orders this morning. I should do OK.
At DNC headquarters they got the streamers, baloons and confetti ready.
IMO,the downturn can hurt you ONLY if you’ve a mind to sell or trade today or in the short-term. For the long-term investor, it’s a chance to prepare for the next wave of highs - a chance to buy cheap.
I suspose both are where the term “Taking it in the shorts” comes from???
Acting forcefully against economic risk and financial market meltdown, the Federal Reserve cut its overnight lending rate by 75 basis points to 3.50%, the Fed announced Tuesday. It was the first time the Fed had cut interest rates between meetings since the 9/11 attacks in 2001.
‘looks like Fed stepped in...
The democRats are in charge
Fed just cut interest rates 75 bp and the futures losses are cut in half from their limit-down lows.
Sorry Ben, it’s too late. And you panicked. We still haven’t had the big finale of a selloff where everybody is completely sold out. You’ve given people false hope and shown that you are another Greenspan.
Here’s a prediction: by the end of the day this rate cut will have had no net effect whatsoever on the earlier losses — all major averages will be down five percent.
Even with the fed cuts if it doesn’t drop or correct itself now when will it then?
Thanks for starting this thread. I thought we needed one today to follow the happenings. A lot is at stake.
I think, that by the end of the day, your beeber will be stuned.
I think cooler heads will prevail by the closing bell today.