October 10, 2008

Someone bought stocks.


Looks like investors had an idea that when the Dow dipped below 8000 it was time to buy. We actually ended with a small surge today.
Could be a turn around, could be just a blip. I guess what happens Monday will tell more of the tale.
Interesting enough, there is tons of Doom talk out there, which means panic, which means the idea that doing something is better then not. I keep recalling that everyone says the stock market is a long term deal, by that reckoning the market is still above the 1998 levels.
In a week the market has dropped down to where it was after a drop in September 2002, only to recover in January 2003.
What does it mean? It could mean to look at gold instead of stocks, it could mean to make sure you spread any cash you have over 250,000 to different banks (to make sure FDIC covers you). It could mean that those stocks of value are great deals to buy!
Most of all, watch the market come the start of next week and realize Panic doesn't help.

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