For the last few days the stock market has been really “wacky“; one day the DOW down almost 500 points, then the fed cut rates by ¾ of a point, then the market recovers for a while, but then down for about another 300 points and then it recovers adding 298 points to end at 12,270.19. Tell me that that is not crazy?
While Wednesday January 23rd was the day stocks snapped from a five day loosing streak on optimism that the government will rescue bond insurers and prevent billions on credit losses, the question is will their plan work for the long term or it is just a short term “thing”. For those who are believers, let kneel down and pray that their strategy works.
Enough with gloomy news; today is a new day, and perhaps a good day too, only the “gods” know.
Today, from the earning calendar: Microsoft, AT&T, Amgen, Ford and Sun Microsystems are the big names to watch. All these companies are to report their quarterly earnings. I hope and pray these companies have positive results and no bearish out look in the economy, this will be good for the market
Also, House Democratic and Republican leaders are looking to agree with the White House on a crisis deal to push the economy out of its “crash”.
Well, I don’t want to say much, but let’s hope for the best. Fasten your seat belts ladies and gents; this might be a bump ride.
