Also in the spirit of Halloween, we thought we'd post a scary video below. It's a little political, but we indescriminately rip on both parties when they misbehave. Don't worry, there's been plenty on Helicoptor Ben in the past. Enjoy!
SCARED YET? READ ON!
The Dow Jones shed 250 points on Friday on high volume. That was kind of scary, but not too bad. The reason? Friday the Gov reported Consumer Spending dropped in September .5% from August; but that wasn't too scary considering cash for clunkers ended in August. The Consumer Confidence guage also dropped from 73.5 in Sept to 70.6 in Oct, but that wasn't too bad considering a similar preliminary number was announced a week ago.
Also Scary: VIX, the fund that measures fear and volatility in the market (And a must-have in your portfolio as a hedge in Joe's opinion) increased 25% on Friday. That isn't too scary - especially if you made money on it. And Finally, yes, it's scary that our fearless leaders Helicopter Ben Bernanke of the Fed, Turbo Tax Tim Geithner of the Treasury, Obama, Pelosi, and Reid all seem to have no clue how to fix this sinking ship and we have many more years of each.
HOWEVER, you want to know what's REALLY, REALLY, REALLY SCARY? It has come to Joe's attention that some of his readers haven't passed this blog on to everybody in their address book quite yet. This is really quite scary because how else will your beloved family and friends be able to navigate through the stormy seas of today's markets? (JoePS) This alone may have sent the stock market down 250 points on Friday as investors fear that some people may not have the proper investment instructions and directions (Joe, recalculating) found only at Joe Shareholder. (Just Joeking)
I believe that we are in a tough spot here. You had some great analysis on the dollar. The volume spike on Friday was scary and I think we are in for a rough ride on Monday.
ReplyDeleteSend your readers to view my blog at http://www.stockshotz.blogspot.com and I will send mine to your blog as well. Keep up the good work!!!
JOe Joe Joe we know....it's almost the end of our miserable life. Hopefully 3 more years and we'll be resting in our graves.! Ah obama!
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