DOW Breaks 11k

[American Patriot]

I dont have 401k.

I have IRAs. I don't touch 'em. Citibank. Ouch...

They better not go under, too many of their customers are like me. Former military people.

with guns.

[Malsua]

Citibank...i.e. Saudi bank, Sino Bank...naw, they'll get bailed out.

[Ryan Ruck]

You can't change your investment selections?

I used to be able to but, not too long ago I opted to have it switched to a managed account for a monthly fee. I figured the modest fee was worth having a professional in charge of it. I'm glad I did as that is the reason it is currently performing as well as it is.

[Malsua]

As I noted, I moved back into equities on Friday.

I read this today. While specifically dated on the 14th, I guess he was seeing the same things I'm seeing. I am not a market guru, I don't know bullspit. I just read alot and watch the trends. The massive volatility has largely come out as the money supplies shrunk. This is because big hedge funds got serious and stopped playing day trader. It is also due to a number of the credit banks collapsing, and the deflation of the CDS bubble.

It reminds me of a scene in the Posiden adventure or name your disaster movie. Every one is partying, having a great time. There are some folks who are seeing warnings, but they mention it and are told to shut up and have a bottle of wine. There is a point when the party stops and everyone has finally realized it's not a party any longer. Those guys partying on the deck when the boat goes over are dead. Everyone has now realized they may not make it out and are in survival mode. Dropping a few extra billion in an "ever rising" commodity like Oil seems like insanity now. This point has passed in the markets.

We are now at the point where people are organizing and are heading for the bottom of the boat. It's still rocky yet, but I think they're going to make it. If the entire ship goes down(economic collapse) none of it matters anyway. At least the debauchery and insanity is over.
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http://www.forbes.com/opinions/forbe.../0202/013.html

Yay, Stocks!
Amazingly, equities will end the year up. Most shareholders will experience something they've forgotten existed: capital gains. True, the economy is now in a bad slump, and the Obama initiatives (see below) will do little, if any, long-term good. But the forces of recovery will break through. As they always do, stocks will rise before the economy does. There will be volatility aplenty, but imperturbable bulls will be smiling a year from now.