- So, how'd your day go?
- Life's busy here at the Fun Factory, but I had to get something in about the market crash. Seems like the response to the failure of the bailout package had somewhat of an impact.
- SOMEWHAT!!!
- Did you notice a wider spread between bid-ask today? I saw that on the IWV it was like close to 1%. No way. Is that normal for that ETF? Or is my quote system mucked up?
- Who knows where this is headed. If a deal gets signed, does the DOW rally 700 and the Nasdaq go up 10%? If not, do we go down 3000-4000 points and retest the September 2002 lows? Or is the market just having a fire-sale panic today, that will create big gains down the road for buyers, as did the 1987 crash?
- One thing for sure, is that this stock market action just has to be crushing any chance McCain ever had of winning in November. Obama may win all the electoral votes at this pace!
- I remain long, but I've ridden this sucker down for quite a bit of this journey. I continue to dollar cost average in, and today was looking at locking in some tax losses and rotating into other like-kind investments. Will need those tax loss write offs in the future when Obama raises taxes on us, after all.
- Anyways, for a glass is half full view, see Michelle Malkin's column, Some Perspective for the Chicken Littles.
