While the market decided to do it’s “cliff jumping thing” today, I spent this wonderful day on my 2007 income tax return. Former CPAs never, ever, file on time.
Just realize that we are seeing distressed selling, many times where whole portfolios of stocks and bonds are being liquidated to satisfy collateral provisions and capital commitments .
Blood is running in the streets. In effect, Americans are fast becoming indentured servants, complete with battle axes and maces.
When you have CEOs of companies having to sell their own company’s stock because of margin calls, then you know we have now come full circle in the world of financial fuckery.
This creates opportunity for those astute individuals with balls of steel (no offense to women), and deep pockets of cash. Is this the bottom? I don’t know. What I do know is that stocks have gotten cheaper than crippled monkey rentals at a circus. Yeah, it doesn’t make any sense, no?
Tomorrow, I will be nibbling, ever so slightly, again, on some blue chip names that are paying dividends.
General Electric Company [[GE]] , Intel Corporation [[INTC]] , [[MCD]] , Johnson & Johnson [[JNJ]] to be specific.
Christmas is approaching, so It’s also time to start compiling your wishlist of stocks. What is more fun than thinking about stocks that can go up, when you’re currently losing your ass in the market?
Given that we are in a recession that will only get worse, if you are one of the few that currently think that Hank and Ben have any idea of what they’re doing, and that things will get better, then start with the early cycle stocks in the technology and consumer sectors.
Granted, you will have lots of time to compile said list, since the economy, the market and corporate America is in a world of shit.
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