Today is not going to be pretty, and if this were Sunday, I'd say it would be a "Sunday, Bloody Sunday" to rival any in history.
After the deal was struck, and the market surged up nearly 300 points for the day (over 400 at one point), nervous "no-nad" republicans decided it might be "fun" to rebel against their democratic allies (and their own President) and derail the economic, $700Billion Bailout Rescue Plan, that Jim Cramer likes to call "Invest In America".
Now, as I write this the DOW futures are down 193 points, NASDQ futures are down 40 points, S & P futures down 26 points, oil down $1.98. There is some good news though (insert sarcasm here), gold futures are up $11.20.
Cash is, it would seem, king, and at the moment, makes up nearly 50% of my total portfolio value, and I have adjusted the prices for my automatic buy orders down an average of 10%. I'm thinking if the market comes down as much as I think it will, I can increase my positions in my top ten stocks (see Bloodbath Monday!!!) that have not already maxed out at my $2,500 limit.
I'm just wondering one thing now. How long will it be before Pat Robinson or one of his right wing, Christian fundamentalist (re crazy morons) say that the current economic crisis is the result of God's displeasure over the abomination of gay marriage. Frankly, I'm surprised they haven't said it now. They were quick enough to do it after 9/11.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment