Monday, October 06, 2008

That Bailout Bill...

...was supposed to help the broader market, right? But as I sit and watch the DOW, it's down 300-ish points and is about 15 points away from dipping below 10,000 points. I fear what would happen then, especially considering how much of the market movement is psychological right now. Everyone has jitters, everyone is on edge, and there's a fear that the bottom is ready to fall out at any moment.

It's painful to look at my brokerage account and retirement accounts. I don't mind the huge losses in the retirement accounts right now as I am confident they'll have increased plenty by the time I actually need to get to the funds, but my current investments in my brokerage account are hard to look at.

I wish I had the extra money to invest in more companies that are on the cheap because of the broad market kick to the pants that has been happening. It's a great time to get stuff on the cheap, but I'm not really willing, right now, to sell off some of my stakes in what I believe to be strong companies at a loss to move to others. There are a couple of stocks that I hold that I think have weaken since I bought them, but I think their share prices have been overly punished so I'm waiting for a little bit of a bump back before dumping. Any way you look at it, though, it's a rough market.

So anyone think we'll close below 10,000 today? I think it's very possible...

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