posted on Sep, 8 2008 @ 04:24 PM
While I'm happy my stocks, for the most part, went up, I know this will not last at all. This situation has happend before, and not all that long
ago. I see the Dow gained 2.59%, NASDAQ .62%, and the S&P gained 2.05% so it was not a terrible day. Investors where happy though, which I find odd.
I noticed my Mutuals have not came back up yet but I expect that they will gain before today ends.
I would have thought for sure that investors would be a little bit more iffy today. I've been reading through some of the takeover stuff, but
mostly skimming through it. And while it is nice that some investors are happy about it, I don't believe that I've seen what the bailout plan
entails. You'd think that would be important but I've probably just missed it, maybe not.
I noticed that financials gained for some reason. I guess people are just ignorant. Even though the market had gained today, and it was better than
it could be, I would still be leary of jumping in it. Out of the financials, it appears that only Freddie Mac and Fannie Mae had losses today. Citi,
Wachovia, and JP Morgan are a bit suprising. I'd bet Citi will right off more, say $5 billion or so. This article on Yahoo points to the good that
could come from this: biz.yahoo.com...
I'm still betting that some companies have not fully wrote of their losses though, Citi being the main one; however, this is just speculation. As I
stated earlier, Bank of America and Goldman Sachs should be ok, even though their stocks are still liable to fall if others do. At least the dollar
is/was getting stronger.