I saw the Asian markets up 10% and the some European markets up 5-8% 5 hours ago…
The ride isn’t over. I think it will stay volatile for at least another year to 18 months. That’s why stocks are for the long term investor, so they tell me.
So they told us when we started this. This is the fourth downturn and if we had placed our money into any other interest bearing form we would have been insured and ahead now.:shrug:
Yep, short term bump up. Everything else I keep reading is for the long term to continue to drop for a few months. We are not at the bottom quite yet. :eek:
Up around $780.00 now. This is going to be another wild ride IMHO.:shrug:
It finished up about 11% today, just like parts of Asia and most of Europe.
It is a perfect definition of a Bear Market Rally.
The market will continue to be a very hard roller coaster. :eek:
Dead cat bounce. Things are still going southwards before socialism, IMO.
nobody knows when the bottom is. when you finally find out, it’s too late.
i bought more VDE (energy fund) and international index fund shares in my roth ira.
VDE is really cheap right now.
It was a big ride up, but it was a climb all the way up into the basement. Small volume, not broad-based.
The weird thing about it, it seemed to me, was that most banks, even good ones, didn’t fare very well. If everybody was so excited about measures to save the banks, why didn’t they go up?
A broker was telling me today that bank debentures are yielding about 10% right now. Of course, if a bank goes under, they lose. But they get paid before stockholders do, and there are plenty of banks that are still “well capitalized” and selling below book value.
Even given that banks are probably going to have very poor earnings, comparatively, in the next 12 months, they’re not all going to go under, and they’re not all even going to lose money. They didn’t even do that in the Depression.
A lot of these gyrations don’t make a lot of sense to me. Maybe it was just a meaningless “bear market bounce”, even though it was a big one.
Asia up again tonight