Thursday, March 20, 2008

More Turbulence Ahead. Buckle Up.

Honestly, the markets are making me ill and I'm not even playing. My IRA is in cash which is not a good idea considering it is in US dollars. But I haven't decided what's safe and I'm wondering if anything is really safe.
The Dow Jones industrial average gained 261.66 points, its third triple-digit swing in a row. Shares of financial firms led the advance, as Fannie Mae and Freddie Mac benefited from an analyst upgrade and hope that loosened restrictions on lending would jump-start the ailing mortgage market.

Meanwhile, the dollar staged a comeback against the euro, buoyed by lower interest rates. That helped push the commodities market into a freefall, as the price of crude oil and gold fell almost 10 percent in less than 36 hours.

I guess I always raise a suspicious eyebrow when I see the markets doing the exact opposite of what I feel should be happening. Sometimes I wonder if these inexplicable gyrations aren't simply due to investor desperation.

Whatever. Tomorrow is Friday and Fridays tend to make me extremely nervous during times of economic trials and tribulations.

You folks go ahead and have fun playing the market. As for me, I'll just sit here clutching my unemployment debit card.

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