Stock Market Rally … A Real Bottom?
At last!! It only took a few dew drops of good news for the Dow to recover from its near death experience and rocket 350 points. The “I love America trades” of long bonds and Treasuries came back with a vengeance. The “short America trades” were last seen running down the street with their tails between their legs, and gold breaking key support at $900. News that Citigroup was profitable in 2008, rumors of the suspension of the uptick rule and mark-to-market accounting were enough to do the trick. It also helped that every technical analyst on the planet was screaming “Buy!” Although this may not last, even a single day of fresh air is welcome.
Is this stock market rally just a one day 5% dead-cat bounce? The basic fundamentals of Citi has not changed. Of course the banks will all be profitable if Uncle Sam removes any and all losses. A one-way street upward as long as the taxpayers pay the losses… a market rally based on these fundamentals does not prove to be a true bottom. San Diego Realtors
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The days of buy & hold in the stock mark are over! The vast majority of stock brokers and media financial types have always said not to panic, hold for the long term and stocks always bounce back. The problem is when –a real bust, you can end up with a huge percentage of your savings wiped-out. About the only think for certain in the long term, is that the person who gave you the buy and hold advice has retired and you have to keep working because you can't retire on your reduced savings.
You have to know when to hold them and know when to fold them! San Diego real estate agents
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