Friday, September 26, 2008

Waiting...

I'm just sitting here with my cash, waiting for a resolution like everyone else is. You know something is up when Washington Mutual becomes the largest bank failure in U.S. history, and yet it isn't even the biggest financial news of the day. I have strong opinions about what the government should and shouldn't do, but that's not really the point of this blog. In the end, making money in the stock market means reacting to conditions as they are, rather than as we wish them to be.

4 comments:

Dan said...

Jody,

It just amazes me on how well the market is holding up amidst all the bad news. How much worse can it get?

Dan said...

What's your guess - I think there will be a compromise and the market will react negatively but that's just my guess. From what I'm hearing the masses are against this and the "Repulicans" are listening for now.

Jody said...

I think the masses of traders are on the sidelines waiting to see when/if the big bailout happens. We will probably see a big move when Congress commits one way or the other. Since I can't predict what's going to happen, I'll probably be in cash for that preliminary rally/crash. My goal is to position myself to make money on the inevitable recoil/bounce.

Jody said...

I can't afford to guess what 535 Congressmen and Senators are going to do. I need to pay attention to the market indicators so I can time the recoil correctly.