The Federal Reserve cut rates by 1/2 point and coordinated cuts around the globe. This appears to be one of the best moves that we have seen yet, moreso for the global scale and cooperation than the amount of the cut.
I am going to really start making that list of stocks, as this measure could restore confidence to some degree. The futures have made about a 500 point turnaround since this announcement. I hope this will help my FLR as it should help the global growth outlook.
Bank of America is down in the premarket even in the face of this news---which is very surprising to me.
Stay Tuned
Wednesday, October 8, 2008
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2 comments:
The companies that survive this are either VERY sound or they have been bailed out.
These conditions are as bad as I can remember in my lifetime. I am not going to do anything else but wait for now. But I think even at this moment (Dow around 9200), almost EVERYTHING that has sound business practices already in place, is a bargain.
Will it go lower? Quite possibly, but you can look for a good return once the panic subsides.
U R right dollar.discipline, the companies left are sound. The panic is going to hit one time really hard and we are going down fast and then it will be over.
I would not buy gold right here. It is the panic investment and panic is waning. Gold always goes up the steps and down the elevator.
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