The stock market is in free fall and it's time to stop the slide. I suggest suspending trading until traders can calm down and stop their lemming like run for the cliff. People are selling just for the sake of selling and that is stupid.
If you are holding good companies why sacrifice them for pennies on the dollar? Financial stocks are a real problem, but major companies who are doing well should be good in the long run.
It's times like this I am almost glad I am poor. My portfolio is filled with moths.
We also need a strong President who can calm peoples fears. Bush should be on the radio and TV trying to calm people but considering his record for truth telling it might not work. I sincerely hope Barack Obama can be the kind of leader we need. Another Roosevelt would be a good thing right now.
Now about those execs at AIG (the company we bailed out) who threw the $500,000 party for their managers and salespeople, well they can sell apples on the corner for all I care.
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Dow Jones highs and lows:
Oct 9 2007 - 14279.96 - highest
Oct 9 2008 - 8579.19 - today
net loss = 5700.77
Which translates to 39.9% drop.
Glad I didn't have anything in the stock market at this moment. Is it a good time to buy stocks? Nope. Not yet. It's not "bottom" yet. Better keep your money in your land, bank savings, and cash for now.
richard h.
fort worth, tx, usa
While I don't believe this is a good time to invest, I do however believe that it would be good to invest in General Electric (GE). Warran Buffett just pumped $3 billion into the company, and he's rarely wrong. Here's the article: http://www.usatoday.com/money/economy/2008-10-01-1678224584_x.htm
richard h.
fort worth, texas, usa
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