Hi zorgon,
I'm sure that the CEO from WAMU will not scream, "Run for the hills! - it's over!!." But that's another story.
I agree with you about buying cheap stocks however I still feel the markets will fall furthwer and the real bargains are to be made later on.
Yesterday with the fall of 777 on the DOW took off 1 trillion 200 billion US from the market which mostly came from the banking sector (I have to ask you if really you beleive your money is safe) that is almost the DOUBLE of what the government was asking for to - and it must be said cleary - GAMBLE with public money to try and save these institutions. If they have lost almost the double and are still in business, what would 700billion US have done? As I see it, would have just protected their bottom line.
I also don't think that the crisis will affect the good creditors on the high street, however it will make credit more expensive (if the banks survive and according to your CEO from WAMU that's going to happen).
So as I see it, bums can stay in seats for the time being in relation to the DOW, but I for one would be one of the first in line to take my live cash out of the bank. But that's me.
Best regards,
Steve
Quote:
Originally Posted by zorgon
Well I went to WAMU this morning and found the doors ope... business as usual... accounts intact and my mortgage safe..
The only hint was a form letter from the new CEO that says things will be fine...
So all the panic last thursday seems to be gone 
Now then the stack market DOWN?
Well get yer butts out of that chair and buy some stocks while you can. Any GOOD company will survive and rise again... its happened before will happen again...
BUT THIS TIME The average Joe can pick up a deal because you don't need huge minimums like during previous crashes...
Get out there and get rich
Errrr anyone got a few grand they can spare? I have this deal....  |