Today, at the close of the DOW and NASDAQ, trader's cheered. The DOW sky rocketed 936+ points, closing today at above 9000 (9387.61). As I type this, the Asian markets are on their own rally, the Nikkei 225 at about 11:55 on Bloomberg, was showing a rally of 1080+, rising to 9357.87.
The Nikkei as well as the Heng Seng (16904.29) are rising and some are saying that we hit the bottom. In reality, we are simply see reactions to some of the actions taken by governmenrt leaders, directly pumping capital into crippled banks, cutting interest rates, and the US having meetings with various banks. The market is living on hopes and expectations, the very fumes that are left in an empty economic gas tank.
This means, remain cautious. Yes, this is the best time to buy. Yes, it will be a time to hold on, if its MSFT, or WMT, estabishled stocks that should be selling below what they are really worth. Now is the time to buy, but if you did not buy at 8500, just by in increments.
The ride is not over yet, just hold on tight, and ride.
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