Tuesday, March 03, 2009
Two Days, Two Psychological Barriers
Yesterday, the Dow fell below 7,000, but the S&P managed to stay just barely over 700. Today, the S&P slid in just under 700. Tomorrow could be an interesting day with either a good bounce or the plunge continuing. There is a lot of downward pressure and not many bright spots. Does anyone else get the feeling that 2009 is going to be a long year?
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3 comments:
As the President said today, anyone who watches the Dow day after day is going to miss the big picture. In other words, patience is a virtue.
What big picture? The stock market losing half its value in one year? Or maybe that the national banks have lost more money since September than has been made by the banking industry in the 500 years of its existence? Or maybe that we are no where near bottom? Or that the ass clowns running this circus are, well, ass clowns?
Big picture indeed.
We have barely gotten back to mean, which indicates there is much more to come.
I'm expecting 365 days, but those individual days might be quite long.
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