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What Goes Down ... Dow Up 10 PercentPosted on Oct 28, 2008
The Dow shot up 889.35 points on Tuesday, a welcome respite from Wall Street’s month of plunges. Things could still get a lot worse: While some buyers snapped up what looked like bargain stocks, others said they expected a major drop before things get better.
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By Fahrenheit 451, October 29, 2008 at 6:57 am #
The stock market no longer reflects the true economic condition of this country and hasn’t for a long time. But I think Nuriel Roubini is correct; we haven’t hit bottom by at least 20%. This 11% rise is a false indicator.
Report thisBy libertarian, October 29, 2008 at 6:19 am #
(Unregistered commenter)
Look at job loss and shopping trends. If you buy stocks long now, you are inviting disaster. Check out inverse shares and gold, all etf’s. Don’t be fooled by the CNBC promotion of stocks. Add some inverse-etf’s. I’ve stayed 40% above the S&P;with this.
Just as examples, if you buy GLD, short a third of it with DZZ. If you buy MDY, a nice long-term gainer (till now ), protect yourself with something like pssdx. Dont take my word for it, check the charts. Brokers will not help you with downside protection.
Report thisBy troublesum, October 28, 2008 at 9:15 pm #
Is this Obama’s idea of shared sacrifice: wall street firms like Goldman Sachs and Merrill Lynch are laying out $13 billion in end of year bonuses for their ceo’s and other executives. And some of these firms are raking in billions from the taxpayer bailout plan. Obama is keeping his mouth shut. Sacrifice is for little people. Source: democracynow.org
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