The stock market is bad crazy. American markets are closed for MLK day, and around the world markets are plunging 5% to 7%. For the uninitiated, that's what you might call a bloodbath. 5% on the Dow would be like 600 points. Even my bear friends are gnashing their teeth. Expecting a bounce after last week's declines many took profits Friday and closed out their short positions. One of my gurus was so convinced there'd be a bounce he went long some indexes. Now they're sitting helplessly waiting for the market to open way down tomorrow, having missed some big profit opportunities, or in the case of the guys who got long looking for a bounce, facing big losses.
Me? I'm short Regions Financial and Capitol One Financial. Capitol One is the credit card company. Any day now folks are going to realize its even easier to stop paying your credit card bills than to stop paying your mortgage. Aside from trying to get you on the phone to question your inner core of integrity what can they do - garnish your unemployment check? And Regions, well they were my last mortgage lender, and they were annoying. Somehow, I don't think all those hurricaine/flood victims down on the gulf are hurrying to the mailbox every month with their loan payments.
Janett's doing really well with her computer graphic arts applications. There's some pretty trippy stuff at her blog site. And from there you can go to her UTube site and see other cool stuff. It's fun to read the really complimentary comments.
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