- Look out below! The stock market dropped large today as it stair-steps its way to $0. Or so it would seem. I'm down close to 2% on my buys earlier this week. I remain 100% long. When you're catching falling knives, you better hope they're butter knives.
- A new bear leg down?
- Will the Fed cut interest rates because of the mortgage crisis? The mortgage crisis that's shaking capital markets could encourage the Federal Reserve to cut interest rates, economists said this week. Problems in the subprime mortgage market have spread into other parts of the home loan market, causing the private, secondary mortgage market to freeze up. That's limiting the availability of some home loans. I don't believe it's that wide spread.
- I think this is the weekend I turn bullish in the Tickersense poll.
- President Bush to expand War on Terror to include Global Warming. I suppose that means expanding wiretapping to try to find out who hasn't switched over to compact fluorescents.
- Joe Paterno ready for another football season. At age 80, with a 16th grandchild on the way this fall, Paterno said Tuesday he's feeling swell and has no immediate plans to abdicate as he enters his 42nd season. He's "feeling swell," Alfalfa.
