I AM SURE GLAD TO SEE THE FIRST QUARTER of 2008 behind us. It seemed as if every couple of days there was more bad economic news. Each announcement was worse than the last. The banks, investment houses, hedge funds, etc. just pumped out the bilges with their financial gray, brown and black water. It didn't matter if the tide was coming in or going out. The whole economic bay seemed to be polluted.
As the quarter unfolded, it became clear that the world's credit system was drifting aimlessly, like a ship sailing with no wind. A lot of business that should have gotten done just did not happen, for lack of funding. Funding went away because risk aversion kicked in with a vengeance, and for a very real reason.
Now GE nad Alcoa report lower than expected earnings and Wall Street is surprised so they take the market down.
Duh!!!!! Things are going to be down because they are reporting earnings from the first quater.
So now is the time to be picking up bargains.
Buy low and sell high. How many of you can do that?