Post Stimulus Announcement - DJIA at "Chinese Auspicious Number: 7888.88)

Posted by Kris | Wednesday, February 11, 2009 | | 0 comments »

After the announcement on Tuesday, DJIA stock tumbled 4.62% to 7888.88. (Very auspicious number as "8" sounds like wealth in cantonese")

I guess this is the typical buy rumor and sell news. Unfortunately, i am LONG as i was quite optimistic about the plan. I gave it a long thought on how private investors are going to be actively involved in the "bad" bank concept. I was hoping for greed to win the day. LOL

It is highly that risky debt will be priced cheaply and it will be a good buy long term for those with deep pockets and steel guts. The idea of nationalizing banks will be foolish as that will wipe more capitalization off the market in a single puff and would send DJIA into a tailspin into the abyss.