Stock Markets down (a LOT) second day in a row. (fund, cash)
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Any thoughts? Some experts think we could be in for a 20% correction according to CNBC today.
Are you buying? Sitting on the sidelines?. Selling?
Figures we'd have an end of the day rally (which I'm missing out on). We were donw 148 points when I started this thread. Now we are only down. 43 pts.
Until one side antes up and says, "I'll go first" things won't improve. It appears that the job losses are slowing and we are coming to the point where both sides are cautiously evaluating the other. As a business, especially a small business, you can't justify hiring if there isn't sufficient demand. As a consumer you can't justify making discretionary purchases if you fear losing your job or are now working off of a reduced income.
It is my bet that the consumer will be the first one to crack and demand will start to improve as long as the job loses continue to slow. Businesses will remain slow to hire.
The biggest risk IMHO is if the dangerous rhetoric being bantered about in D.C. materializes into tax hikes on businesses and/or the middle class. If so, businesses will develop a greater bunker mentality and launch another round of job cuts sending the consumer back into their hole.
The stimulus program has been a bust and the American people were sold a false bill of goods. The only part of the stimulus that had merit were the roads, bridges and infrastructure programs. Had the money been spent on these programs it would have been much more effective than simply extending unemployment benefits and bloating the size of the government.
Last edited by Lincolnian; 02-05-2010 at 06:40 PM..
The stimulus program has been a bust and the American people were sold a false bill of goods. The only part of the stimulus that had merit were the roads, bridges and infrastructure programs. Had the money been spent on these programs it would have been much more effective than simply extending unemployment benefits and bloating the size of the government.
Isn't THAT the truth!!!!
Bail outs are much like giving a drug addict money and hoping he comes clean. All you are doing is feeding the madness.
I don't waste my time with the stock market, I prefer to gamble in Vegas. Stocks are overvalued, but that has not stopped them from going up in the past.
After the big drop on thursday I told my DW to watch the news on friday for the government to anounce some "good" news, And like magic they said that unemployment dropped .3% even though we lost 20,000 more jobs ( of course this number will be "corrected" next month much like the december number was corrected from 85,000 jobs lost up to 150,000 jobs lost).
What's really funny is how easy the stock market is minipulated, As the Gov'mint is giving out this months bogus numbers they're also giving you the corrected number from last month.
I said some time ago that putting money in the stock market these days is no better than gambling. The fundamentals are not there. if you have money in European stock, you best be getting it out of there as soon as possible.
Are you buying? Sitting on the sidelines?. Selling?
Buying, and hoping it goes a little lower. I'd gladly take that 10-20% correction if it meant buying my companies at a 10-20% discount.
Quote:
I said some time ago that putting money in the stock market these days is no better than gambling.
No disrepect meant, but that could not be further fromthe truth. From a value investing long term perspective, now if the perfect timeto buy, and it has been the perfect time since the beginning of 2009. There a a lot of good companies that are on sale cheap, and getting cheaper. Buy companies that have strong management, strong balance sheets, and strong cash flow and hold on to them long term. In 4 or 5 years you'll be very glad you did.
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