You know what they say, the early bird gets the worm! Today is shaping up to be quite an important day. Often times, when the market is trending such as it has been, Fridays are usually a reversal day whereby stocks will rally and give the bulls a break. But, we’ve got some economic news getting released today at 10am including the Leading Indicators and the Michigan Sentiment index, for a good description of these and other economic data releases, visit:
http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm
Couple that with the fact that this selloff is starting to gain some steam, and you may have a situation where people just don’t want to hold stocks over the weekend, too much risk. Personally, I think the Michigan Sentiment number comes in real weak, leading indicators come in as expected and the DOW finishes down 100+ points. What do you think?
January 18th, 2008 at 10:22 am
Update: So far so good, market has placed a nice reversal rally today, Dow is up roughly 150 points. If we see a real bottom form here, I’m going to look to get back into stocks, but I am definitely on the sidelines for now, very skeptical and fully expect us to still finish lower today.
January 18th, 2008 at 10:35 am
Lots of my stock picks are low. Think it’s a good time to buy them? or will they sink lower?
January 18th, 2008 at 11:48 am
Update: Folks, this is what you call ‘Market Experience’, DOW is now DOWN 50 points, from up 150, thats a big fall. Personally, my universe of stocks gets smaller every day. It is EASY to make money in a bull market, but it is VERY difficult to make money in a bear market, choose your spots wisely!
January 18th, 2008 at 4:26 pm
so it closed down 60 so you were a bit off but good call!