Monday, February 23, 2009
Falling, Falling, Falling (Buy, Buy, Buy)
So apparently it's going to take the stimulus a little while to kick in. And apparently things are going to continue to get worse before they get better. Now we're all taking clear heed to warnings that came on the heels on the stimulus package passing.
Wall Street has been getting pounded for the last few days. Today the market finished down 250 points and reached its lowest point since May of 1997.
Although market conditions steadily cause reason for concern on the part of individuals such as myself, I'm trying to be positive and focus on all of that stocks that are now within my price range.
I mean, we need to be optimistic and assume that we'll make it out of this bottomless pit. Once we do so, stock prices should recover and some of us may be able to generate a decent profit. If you have disposable income, I saw go buy a few shares of your favorite company. Be sure to avoid stocks like Walmart and McDonalds because those companies have proven to be recession-busters. Instead, look for those traditionally strong companies who have been directly impact by the economic downturn.
After loading up for a rainy day, get in touch with me in about a year and let me know if things worked out for you. But please remember, this is not for the faint of heart. This rollercoaster ride is far from over, so I would advise you to keep holding on with all your might. Then ask yourself: Am I a Chicago Bull or a Chicago Bear? (see what I did there...that was clever)