stock market

[rm]

A couple of months ago I called the market bottom at 6300.

Today we're at 6,594 and Citigroup closed at $1.02. I expect tomorrow to have "modest" losses (80 - 120 points? -- that's modest at this point).

When I called 6300, it seemed drastic. Now I'm questioning if we can hold the 6000 barrier. I'm tempted to stand by 6300, but 5900 would no longer be a surprise. I worry, however, that if we go below 5900, we go into free fall, that there are no more solid psychological barriers in place at that point.

Comments

[rm.livejournal.com]

Thank you! That's very kind. Cons are one big blur for me, because I over schedule and am horible with names and faces, but that sort of hting is always lovely to hear.

This market! I'm home watching financial news because my bathroom ceiling is being repaired, and dude, scary.

[jem-endured-fit.livejournal.com]

It is almost like a reality show gone wrong.

China keeps hinting that recovery is starting. Haven't studied it, but it will be interesting to see the global impact. Hello to future high gas prices!

[stardragonca.livejournal.com]

I think that it's personally important to admit that it is scary, and to recognise that one's fears are reasonable under the circumstances.
But when ginormous numbers of people get scared at once, That's Not Good. And at least half are going to be scared about the wrong things.
Stampedes start because cattle know that it's the cow that gets out first that doesn't get trampled in the stampede.:(