02-20-2009, 11:24 AM
The S&P is still above it's lows, but if those break it could be very bad. I'm hoping for a bounce off the lows and a rebound.
There's a lot of good stuff working in the economy right now. Lower gas prices are a tax break for everyone. Plummeting mortgage rates are helping people through refis and also ARM rates adjusting (our ARM rate just reset, and our monthly payment dropped $300. That should help slow foreclosures). And the stimulus will be kicking in, whatever the Republicans might say.
The biggest problem right now is the banks. C, BAC, and WFC are horrendous again today. WFC is below $10, and BAC is going to be in the 2s pretty soon. On the plus side, C and BAC now make up such an insignificant portion of the DOW that they can't really affect it on their own any more.
There's a lot of good stuff working in the economy right now. Lower gas prices are a tax break for everyone. Plummeting mortgage rates are helping people through refis and also ARM rates adjusting (our ARM rate just reset, and our monthly payment dropped $300. That should help slow foreclosures). And the stimulus will be kicking in, whatever the Republicans might say.
The biggest problem right now is the banks. C, BAC, and WFC are horrendous again today. WFC is below $10, and BAC is going to be in the 2s pretty soon. On the plus side, C and BAC now make up such an insignificant portion of the DOW that they can't really affect it on their own any more.
Ex SWG, L2, CoH, Wow, and War
Currently PvPing in the stock market
Currently PvPing in the stock market