Sell-Off Has Come!

I had a huge feeling that today was going to start and end like it did today on Wall Street. This huge $700 billion U.S. government bailout package is too late. And I really feel it won’t help a single thing. Although I’m still for it, and really hope it works. But what has happened today is anyone’s guess. What made me get worried today was when the Dow Jones industrials went down 800 points. It sat at the 800 point lose just for a moment, but was there, and was very scary. I hope tomorrow will be much better. After all there will be a lot of bargains lying around. I’m going to hold and wait for the recovery, which will come. Even if it takes a year or two, it will happen. Anyway, we can’t stay under 10,000 points forever. Just a year ago the Dow was over 14,100, which are almost 30 percent down. History shows we will recover, we just need to build confidence in the market and economy. Tomorrow should be another wild ride, good luck to all.

Bad Days To Come!

Another huge drop on Wall Street today. The Dow Jones industrials fell more than 340 points to end at 10,482.45. The sure sign of a recession is in the air. I’m starting to believe that even if the house passes the bailout plan will be enough to save the economy. We’re at a seven-year high in jobless claims and factory orders are way down. That means more jobs will be lost very soon. And now we’re coming into some of our biggest holiday shopping months, which the retail market could feel the pinch. Heck, I wouldn’t be surprise by Christmas time we’re in a recession. The way I see it is, this bailout bill isn’t going to help at all. But if it does help, which I sure hope so, I will be surprise. As always, let hope for the best, but be ready for the worst.