The stock market went into freefall last Tuesday. People were freaking out. Any time the heard of investors react in unison, there are some good deals out there to be had.
Most of the time when stocks fall, precious metals rise. Not so on Tuesday! I'm watching this and wondering where is the best place to have your money right now. The dollar was declining against the other currencies so cashing out of a falling market into a falling dollar made no sense to me at all.
Everything was falling, even heating oil, gasoline, you name it. In the market, when one thing goes up, another goes down or vice versa. Think about it, a barrel of oil is a world commodity it should be worth more if the dollar is worth less. Gold should cost more if the dollar is worth less. Not on Tuesday.
I decided to just sit back and watch and not participate as my stocks tumbled and my profit potential grew wings. This is a time where a strong stomach is an asset. I'm thinking, I should have bought bonds, then I see they are not performing either, WTF?
Before the market closed, there was a little bounce but nothing to indicate we hit bottom yet. My son calls me and is ready to bail from the market, ( a little to late for that, duh!) I tell him to sit tight, he thinks I'm crazy but still listens to the old man.
I tell him I am considering putting more funds into the market, he thinks I have totally lost it now. I tell him he has 40 years till he retires so he should stay away from the heard and just hang on, the damage is already done anyway.
Wednesday the market takes another dip and I make my phone call, I invest in under valued tech stocks, (microsoft and Google as well as some Gold stocks). Later that day, the market rallies and there is a bounce and I have made a nice profit for the day.
You can make money in any economy if you keep a cool head.
The housing market is in a slump and there are plenty of good deals for the first time home buyer. The fed dropped the interest rate by 3/4 of a point, so home loans will be a great opportunity for someone who has saved a down payment and has a decent credit score.
Congress passed an economic stimulus package and every tax payer will be receiving a check for up to 600 dollars plus 300 for every child. A family of 4 could receive up to 1800 dollars this spring! Your mileage may vary.
Most of the time when stocks fall, precious metals rise. Not so on Tuesday! I'm watching this and wondering where is the best place to have your money right now. The dollar was declining against the other currencies so cashing out of a falling market into a falling dollar made no sense to me at all.
Everything was falling, even heating oil, gasoline, you name it. In the market, when one thing goes up, another goes down or vice versa. Think about it, a barrel of oil is a world commodity it should be worth more if the dollar is worth less. Gold should cost more if the dollar is worth less. Not on Tuesday.
I decided to just sit back and watch and not participate as my stocks tumbled and my profit potential grew wings. This is a time where a strong stomach is an asset. I'm thinking, I should have bought bonds, then I see they are not performing either, WTF?
Before the market closed, there was a little bounce but nothing to indicate we hit bottom yet. My son calls me and is ready to bail from the market, ( a little to late for that, duh!) I tell him to sit tight, he thinks I'm crazy but still listens to the old man.
I tell him I am considering putting more funds into the market, he thinks I have totally lost it now. I tell him he has 40 years till he retires so he should stay away from the heard and just hang on, the damage is already done anyway.
Wednesday the market takes another dip and I make my phone call, I invest in under valued tech stocks, (microsoft and Google as well as some Gold stocks). Later that day, the market rallies and there is a bounce and I have made a nice profit for the day.
You can make money in any economy if you keep a cool head.
The housing market is in a slump and there are plenty of good deals for the first time home buyer. The fed dropped the interest rate by 3/4 of a point, so home loans will be a great opportunity for someone who has saved a down payment and has a decent credit score.
Congress passed an economic stimulus package and every tax payer will be receiving a check for up to 600 dollars plus 300 for every child. A family of 4 could receive up to 1800 dollars this spring! Your mileage may vary.