Don't believe we are near the bottom...
If US goes into a Recession then stock prices will be hit again, especially financial stocks.
If you look at history whenever there is a massive fall it has always been followed by a dramatic rise, only to fall to lower levels.
If you look at it from another perspective it only fell 7%. So it was not a crash!!! If it went down 10 - 20% then I would call it a crash... Media just beating up as usual.
Makes me laugh when I see analysts not knowing what to do or recommend. These are the experts yet they have NFI. All you have to do is listen to the tremble in their voices and the panic in their voices to know that things are not as they seem.
We are not out of the storm yet.
700 Billion will not prevent the US from going into recession. Job losses on the increase, people not spending, I say they are already in recession. Question is how severe will this be???
As always keep your money safe, you never know what lies around the next corner.
Gold and Oil is my preference in this situation. Traditional safe havens.
Don't believe US Treasury bills are that safe anymore since they will be backed up by toxic assets and a depleting economy.
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