The Preacherman says, "My advice to you is to get yourself a gun and learn how to shoot." The Gunman says, "My advice to you is to get yourself a Bible and learn how to pray."

---------------------------------------------------------------------------------------------

TRIGGER WARNING: Guns have triggers.

REQUISITE DISCLAIMER: Entries at this blog are akin to good old-fashioned campfire chats; I offer no opinion on what you should or should not purchase, or what you should be using or doing. What does or does not work for me could be many country-miles away from your tastes and your needs. Any products, places, and / or whatnots that I review for this blog are purchased at retail price by me. I do not accept payment, gifts, discounts, freebies, products on loan, demon alcohol, drugs, probation, parole, Presidential Pardons, or any flavor of sexual favor for doing any review.

EU TRACKING COOKIE NOTICE: Google bakes those scrumptious cookies and everything Google cooks usually means something related is up for sale. We appreciate our many visitors from inside and outside of the USA and feel obligated to mention that YOUR RESPECTIVE GOVERNMENTS MAY KNOW THAT YOU WERE HERE and they may not approve of you perusing the blog entries regarding GUNS ... KNIVES ... SELF-DEFENSE ... CORRUPT POLITICIANS ... SELF-SERVING ROGUE GOVERNMENT AGENCIES ... GOVERNMENT SPYING ON CITIZENS ... Human Rights ... Freedom of Speech ... Life ... Liberty ... Pursuit of Happiness ... all that kind of stuff.

Friday, October 10, 2008

Have we hit bottom?


Seeing a stock market bottom is more hindsight than foresight. We will not know for sure that we reached rock bottom until the market has tested it and left it far behind.

Traditionally, October can be a wild month during a bad market because October 31 is the end of the fiscal year for many mutual funds; fund managers dump losing stocks as tax-losses then look to buy anything that can act as portfolio window dressing.

This crisis is international, so foreign investors also are cashing out of the American markets. Many Americans just received their quarterly 401K statements; they puked and entered sell orders. People are selling simply because everyone else is selling.

Eventually this bear market bubble will burst and then sanity will return until the next bubble forms. For better or worse, at the end of the worst week in stock market history, with 45 minutes left in Friday's trading session, I put in my October BUY orders.


No comments: