Are you invested in the U.S. stock market? Do you feel better after the market being up 935? The Dow is at 9,387 after hitting 7,905 on Friday morning, a difference of 1,482 points or 18.75%. That's a nice little bounce. Granted, it's not going to make up for the 40% drop in many securities or the drop from 13,058 hit earlier this year, a total of 5,153 points. Still, it's a start and all long journeys begin with but a single step. This was actually more of a long-jump or really big leap. It was reassuring and in particular the market did not sell off in the final hour. That means, to me at least, that all of those investors our the in mutual funds DIDN'T call up their funds this morning to redeem their shares even after all of the bad news being distilled and analyzed over the weekend.
Good for them!!! Kudos to Springfield Sam, my college buddy who didn't call me once in the last three weeks, even though I'm sure his stomach was turning circles. I told him earlier this year that the market is unlikely to break through 10,700 (which I still believe to be a "non-panic" floor) which would have been a twenty percent loss/correction for the year. Obviously we've broken through that figure due to some extreme circumstances, but I don't think we're going to be below it for long. Just my opinion.
So it turns out that the Bears COULDN'T run the nickel defense (5 defensive backs) because they didn't have five healthy dbs!! Unbelievable. I'm feeling a little better today about the Bears game, but only a little.
Congratulations to Pa Sutton who has been dieting and is down 13 pounds!!! He seems to be focused on the weight loss for all the right reasons and is achieving the results almost exclusively through diet change.
Finally, if you Tivo either The Big Bang Theory or Two and a Half Men (both on CBS btw), you'll notice at the end when they run credits that there is a long written page, black writing on a white background entitled Chuck Lorre Productions (called a Vanity Plate apparently). Use your freeze frame ability to take the time to read these gems of prose. They are really quite funny. Here is the latest. Apparently he's been doing these for years (at least 1999)....just on shows I don't watch or wasn't taping at least (Dharma and Greg initially). The numbers with a "c" next to them were censored. Very funny stuff there too.
Note: I've decided to start randomly bolding paragraph subject matter for you skimmers out there. Let me know what you think.
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As the WSJ noted today, I'd be wary that this is the "turnaround" of the market. In three out of five similar 'crash-rebound' situations the rebound was only temporary.
Also, as I will write about in my blog, crashes such as this the majority of times are the harbingers of recessions. It is the recession that will him people much harder.
Congrads to Pa Sutton. That's hard to do especially after a lifetime of habit buildup.
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