One Stop Market

In the next couple of days you (everybody else) are going to want to be looking for a market bottom that may end up being a fairly extreme bottom to which the market may not return to for years. This being the case, you want to watch out for selling short here because huge upturns will not be unlikely. You may as well just look for stocks to buy rather than act on a spotted “sell-short” opportunity.

The pressue is definitely upward in general and prices will push that way through this week as long as nothing else goes wrong and as long as another bank or two don’t suddenly reveal that they are completely and utterly hopeless and bankrupt. We’ll see what Congress ends up doing but it will only help the sentiment from here. They’re not going to leave the American taxpayer and the international investor high and dry at such a time as this, you can bet on that. My guess is they will end up auctioning off debts to whoever wants them and they will buy some as well to regain some liquidity and not let the financial sector and then the US economy collapse in on itself. It wouldn’t be what we economists like to call, “a good idea.”

Without speaking too soon, this is your chance to get some really great deals on some really great companies like any surviving financial firm, the airlines, oil companies, anything in the S&P 500, and pretty much anything else that’s come down way, way too far in the last couple of weeks. Now is the time my friends, but don’t get too comfortable because the market never just rises without objection.