Nope, I bought stocks Friday and will sell soon. My gold will go up again inevitably sooner or later. OTOH, your cash lost as much value last week as it lost in the past 3 or 4 years. Is it any wonder people are desperate to put it in something?
Posted on 10/13/2008 1:37:17 PM PDT by Hillary'sMoralVoid
Quite remarkable that when some were saying the DOW was headed down to 6000, that something unusual happened.
Fortunately, the Democrats didn't do anything to snatch defeat from the jaws of victory on this occasion, but they will do their best to depress the markets any way they can in order to be our saviors.
Interesting how Bush is likely to get any credit, even though he brought leaders from around the world to help resolve the economic crisis.
In the mean time, Freddie and Fannie continue to issue sub-prime and Alt A (interest only) loans, while the Democrats fiddle with feel-good relief for taxpayers without addressing the root problems.
John McCain, start screaming!
The fundamentals are indeed strong.
I wouldn’t be too happy.
Dems will say this is a sign that the more Gov’t in the markets and banking sector the better. :(
Remember where we started from last week or the week before............
Bet the Gold and Silver bugs on this forum are also crying.
I’m not aware of ANY sumprime loans being issued without substantial down payment which is the way it should be.
” Freddie and Fannie continue to issue sub-prime and Alt A (interest only) loans,...”
PLEASE tell me this isn’t true.....
I hate to have to tell you this, but if a 50% stock market crash over the course of a year can’t be used to predict “Dow 6000,” then by the samel logic a one-day rise of 11% can’t be used to declare that “Happy Times Are Here Again.”
Historically speaking, once market volotility reaches current extremes, daily swings of 5% to 10% can become quite common for a while. From 1929 to 1932, huge upspikes like today’s were not uncommon. It’s not the absolute size of any one swing that means anything, but rather the size of the swings relative to each other.
If you look at a price chart, you’ll see an upswing of similar magnitude on September 18 and 19 this year. And from that same price chart, it’s easy to see that using that upswing as a bullish signal would have been disasterously wrong.
That doesn’t mean a new bull market hasn’t started. It just means it’s way too early to make any such judgement.
Hopefully, the new bullish mood will last long enough to get McCain elected.
Nope, I bought stocks Friday and will sell soon. My gold will go up again inevitably sooner or later. OTOH, your cash lost as much value last week as it lost in the past 3 or 4 years. Is it any wonder people are desperate to put it in something?
It’s the biggest daily gain since 1932, coming right on the heels of the biggest daily decline since 1933.
So, don’t get too excited about this extreme volatility, just because it’s to the upside. We’re nowhere near out of the woods yet.
Tomorrow’s a great day for anyone who missed the boat the last few weeks to SELL.
Well I’m glad for you.
According to the experts, credit is so tight that demand for dollars is at an all time high. So how come gold is not at an all time low?
Fear!
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