Tuesday, October 14, 2008
Not a good sign if the market can't put 2 up days in a row; i don't care how big the rally was yesterday. Being down 200 points here and weakening is telling us its a dead cat bounce and not much more. MLPS still holding on to gains but giving back. The index is up just 4.50 right now. Holly Partners (HEP) was up over 5 as the biggest winner today.
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joseph cioffi's Source Page - Associated Content
4 comments:
Joe,
I agree, if we can't hold the gains, it will be a long fall.
The violence of the moves in individual stocks is unprecendented. The mood will turn dour if we crumble and could set off a stampede for the exits.
We'll see...
Mr. Majestyk
Well MLPs will be up two days in row it seems, barring something crazy in the last 15 minutes. Given that two days of trading ago we were 40% or more down in six weeks, I think the baby steps are to be applauded.
Floor has been set, and if you got some investable cash you can still make double digit returns on dividends alone.
GM
Look, volatility is still very high and will remain so for a while. It seems we may have escaped (narrowly) Armageddon, but we are still facing a deep and long recession. Massive deleveraging, hedge fund liquidations, house price declines, increasing unemployment, falling commodities, and various unpleasant surprises will continue.
I believe the smart move is to take advantage of substantial drops to buy for the long-term. That is what I am doing.
Bruce
Touche', Bruce! That's what I'm doing, too. I'm impressed with how well our little corner of the universe held up today.
Lee
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