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Wall Street today
The National news outlets were predicitng a bloodbath today based on what happened in the rest of the world on Monday, I hope no one was so distraught that they jumped before the market opened, the reality of the day was a modest drop of 1%, a veritable victory and nothing on the order of the 5% to 7% that occurred elsewhere in financial markets.
Let's hope the bleeding stops soon and the patient is in recovery or at least convalescence
But Ed that is with the Fed dropping interest rates by 3/4 of a point! When was the last time that happened? The blood bath no doubt would have happened had the Fed not acted in an emergency session!
"And in truth, I've never known a man worth his salt who in the long run, deep down in his heart, didn't appreciate the grind, the discipline." Vince Lombardi
I dono. I own 100 shares of Apple. They reported 57% year over year 1st quarter growth, EPS $1.76 which beat every analyst estimate except for one who was way out in left field at $1.76 EPS. They forcast 2nd quarter at 29% above same quarter last year. The street is disappointed and the stock drops $23/share. Sweet!
I'm hoping it keeps dropping tomorrow, and I'll swoop in and scoop up some more. I don't retire for awhile, and I put away 25% of my income each year, what do I care about today...
Last edited by Buzz; 01-22-2008 at 06:03 PM.
"For everyone to whom much is given, of him shall much be required." -- Luke 12:48
Raven - Moneybird's Black Magic Marker***
(Esprit's Power Play x Trumarc's Lean Cuisine)
Mick - Moneybird's Jumpin' Jack Flash***
(Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
Peerless - Moneybird's Sole Survivor
(Two River's Lucky Willie x Moneybird's Black Magic Marker)
Prolly would have taken a LOT worse dive, but rumor has it Shayne started a mad buying spree and saved it at the last moment.
All hail St. Shayne regards
Bubba
"During my lifetime most of the problems the world has faced have come, in one fashion or other, from mainland Europe, and the solutions from outside it."
Margaret Thatcher
Down 450 at the open wasn't very comforting.
Its been 18 years since the Fed moved rates downward by 75 basis points.
Everything is overleveraged, so were in for serious tough times no mater what.
"Darla" AFC Candlewoods Lil Smokin Tequila (fondly remembered)
"Smoke" Smokin Auggies Menace, QAA
"Simba" Humewood Simba
Heck, the bulls not even out of the chute yet. Get ready for a heck of a ride, but don't get off, it will all come back. Seen it before and we will see it again.
Carl
A well trained dog is a conservation tool.
"Light travels faster than sound...That's why some people appear bright until you hear them speak"
The pin is nearing the balloon...
The only mystery in life is why the kamikaze pilots wore helmets.
Originally Posted by kjrice
After elections
Thats obviously what the Fed thinks. They are not worried about one days trading. The statement they made by making that large of a cut in between meetings signals their concern about the growth of downside risks to the economy.
Look for another 50 bps next week at their regularly scheduled meeting and depending on the data that comes out before their March meeting we could see more then.
I think the difference this time will be Joe Mainstreet wont be able to leverage up again/more because lending standards have tightened and I dont think they will loosen back up for quite a while, if ever again.
2008 will not be fun for equity investors but could be good for those looking to enter the market with a long term investment horizon.
Diversify, diversify, diversify. My advice for today.
Mac
"The longer you let a dog go in the wrong direction the more they think they are going in the right direction" Don Remien.
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