Is this near enough?
Posted on 03/15/2008 5:38:06 PM PDT by shrinkermd
STARTLED BY A RAPIDLY WORSENING liquidity crunch at Bear Stearns, the stock market fell Friday in a broad wave of selling as investors worried anew about the severity and spread of the credit rot.
The crisis of confidence at the nation's fifth-largest investment bank, where customers were demanding their money back, mirrored the crippling anxiety spreading through the markets: The cost of protecting investment banks' debt against defaults increased. Shares of merger targets slipped further below offer prices amid fear about the unwinding of arbitrage positions. Emerging-market assets skidded. Investors rushed to hedge in the option market.
That the New York Federal Reserve and JPMorgan Chase (ticker: JPM) were devising ways to bail out Bear Stearns (BSC) raises the specter of a bank too big to be allowed to fail, and the prospect of such a failure -- and others that could still come -- frightened investors in markets across the globe.
That distinctive smell of fear also egged on traders who counted off increasing signs that a stock-market bottom, if not yet here, might at least be near: a venerable Wall Street giant teetering on the brink of collapse, frantic government intervention, the whiff of panic everywhere you turn. The bargain hunting that ensued lifted the Dow Jones Industrial Average 118 points off its intraday low Friday afternoon, providing a wee bit of reprieve heading into the weekend
(Excerpt) Read more at online.barrons.com ...
Both of these are contrary indicators auguring for a bounce back rally. But like all statistics its the exceptions to these rules that destroy your nest egg.
I wouldn’t be a big buyer right now. Even if you wait until the S&P 500 moves back above it’s 50 day moving average, you won’t miss out on too much upside, if things are about to start roaring back.
Is this near enough?
Thats unbelievable.
Pat Dorsey, one of the most calm and patient investor, he makes regular appearances on Fox’s “Bulls & Bears”.....he said this is time to BUY.
Too bad Jim Rogers doesn’t come to Cavuto’s show......I guess he is too buys making money on the COMMODITIES, that he was championing for years and even wrote a book......he was RIGHT about HOUSING MARKET......about Dollar......and about Commodities........
I wish we can get a confirmation from him.........if he says GO - GO.
Doctored?
Go out there and Spend some money!
Not Guilty.
why wasn’t I pinged?
Mercy!
....one more thing....Jim Rogers was putting his money in Nuclear Energy as well.....and Natural Gas.......he believes future is in Nuclear Energy.....and he is right.....
Even a Liberal like Quentin Hardy said today that Nuclear Energy is a viable option......
Its the CHEAPEST and if you protect the waste properly....also the CLEANEST.....
ITS CRAZY THAT EVEN TODAY WE ARE BURNING FOSSIL FUEL TO GET I THINK 40-50% OUR ENERGY (not talking about gas for cars, that’s a small percent of overall fuel consumption).
I don’t know, can you smell it? It isn’t close enough if you can’t smell it; see the title to this thread.
Sorry, I thought you'd be out partying right now.
Now, that is a bottom!!!!!!!!!!!!!!!!!!
I am! Went more aggressive on my mutual funds mix when the DOW was at 12,400. Should have waited a month.
“Baby’s got back”!
THAT is a bottom!
bump
There is more and more talk and pressure to open ANWR. We MUST start pressing congress.
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