Thursday, October 2, 2008


While the Fly laments the loss of the good old days [1], I am up 10% in SOL[2], happy, and finding the market more interesting than ever. With another vote on a slightly modified bailout package taking place in the House midday Friday [3], the Senate's okay [4], Americans' 401ks hit hard [5], 91% of all mutual funds having lost money [6], and bailout analysts stating what’s saved on the expenditure side could well be lost on the revenue side [7]; it appears that the House will edge towards something. Whether they vote for the bill and hand it to the President remains possible--especially given the original 228-205 vote [8] that may find itself swayed after Monday's turmoil [9]. Futures data are down for today [10], meaning I may sell in the morning; but, overall, my view on the bailout remains optimistic. And, it appears that Warren Buffet holds a similar view [11].

Take care! Good trading.


MatchPointTrader said...

Actually my 401k account is holding up much much better than my own portfolio. I had put 90% of my money in money market - so I didn't lose much. Then, I converted most of my cash in msft stocks at 27 and 25 on my porfolio. I do intend to convert that again into cash soon. Good luck!

Complacent Panda said...

=) I sold SOL at 11.13, intc at 18.11, and coh at 23.60; so I made some money today.

Glad to hear that you took good care of your retirement! My mom's has definitely dropped a bit. And someone who sits in front of me has lost 25% of his 401k account.