Miller Tabek reports an interesting factoid. They report that every dollar lost in the market hurts consumer spending by 4 cents over the next 18 months, so consumers lost about $400 billion of the $1.2 trillion that was lost on Monday. We grabbed about $8 billion of it back yesterday but you may want to see how the market is doing before you go to Starbucks next time.
Today is round two of the bailout, and it reminds me of how things felt on Sunday night as we waited for Washington to save the day. We may get an up or down vote this evening so it should be volatile. Futures are lower here after yesterdays big run up.
Wednesday, October 1, 2008
Another Day Another Dollar
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About Me
- upsidetrader
- I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.
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