Open Question
This stock market sucks. Last week I had sold off some of my positions to add
another 10% to my cash position. Out of frustration (not panic), I transferred
5% of my retirement mutual fund to my total bond fund today. Two weeks ago, i
kept toying with the idea of putting all my portfolio in cash and bonds, but I
thought it was too risky. But if I had, I would have missed this, what, 8,9, 10
% drop this week? Looking at the chart of the past few months, it doesn't look
like there is much support to keep it all from going down a lot further! Yikes.
For the first time I'm wondering--second job?
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there are always support levels, they are beyond and much deeper than just price
but in the high 1000's around 1080ish is a good support level. HOWEVER, what
non-technicians dont appreciate, is that it is **potential** support. nothing is
written in stone till it is actual history.
stay nimble, stay loose, and remember its better to be out of the market wishing
you were in than it is to be in the market wishing you were out.
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Even the passage of the bailout bill wasn't a catalyst for the market. I guess a
rate cut of .50 probably won't be much of one either.
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