Monday, October 06, 2008

Yikes....I'd hate to see what the market would do if there was no bailout!

Well, the economy seems to be contracting at an ever increasing rate. I hear that unemployment is up....layoffs were at a high last month. I see that oil seems to have fallen to a very low level of about $88 per barrel.

We all know about the credit crunch, and the $700 billion government bailout....yes, the news is bad, but holy cow, what is the stock market doing now.....the floor about fell out today and the market was down about 800 points at one point.....finishing down about 370 points and below 10,000.

Stock markets around the world were I suppose it made sense to ours to fall as well.

As I type this, about 11:30pm on the east coast...the Asian markets are down about 3.4% to 4.8%. What a mess!

We shall see what tomorrow brings. In the mean time....SELL, SELL, SELL.

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