Tough Times~what can we do? Don't give up hunting

Yes, I was wrong about the Dow closing! I am sitting here, utterly disappointed, drinking my Guinness, and asking how could I have missed it, how could I have let you all down. However. I will be dedicating a special podcast to my mistakes and what or where I could have seen this close coming from. Right now, I do want to share with all of you however, my impressions of what may be a hard reevaluation of what will happen to both the Dow and the NASDAQ, if things do not change.

As I am typing this to you, the Nikkei is reflecting a drop of 478 points, and although there are some possibilities tomorrow that we are going to have a rally upwards, perhaps to reach at 10063, as I robustly proclaimed earlier for Wednesday's session, I must say, that things will need to get a little tougher first. The subconscious of the market is thinking that the economies of scale have been overpriced too long. Let's look at the economy as an organism, it is starting to realize that it cannot run as fast as it used too, that it is too fat, and now needs to get on SlimFast. That means that before this gets better, many of us, may be looking at wage reductions, or even more job losses, but then again, we may only be looking at the financial services sector taking the most hit.

Various financial institutions are looking at getting rid of a great deal of their brokers. Many loan agencies are already giving out severance packages to those respective agents, who gave them great profits during this time, but many earned these under false pretenses, approving the "liar loans" as they have been so affectionately called that have caused the majority of our pain and suffering , but be smart, don't worry. Now its time, we need to look for those stocks that are the solid stocks. The ones that you have always wanted to know, but were to expensive to give you, the savvy investor the time of day. NOW its time too look at your IBM's, your Microsoft's, your Googles, they are getting hit. Look at the various companies that are looking to raise capital through common stock that are in the financial industry. NO doubt, that this is your opportunity to perhaps start looking at BOA, but don't buy just yet, just give it a look. Check on the other financial services that are going concerns.

I will be blogging through these rough days. Because it is important for all of you to know what is going on, I am committed to every day posting my thoughts here, and I invite all of you to,of course post your opinions. Most importantly though, I just want to leave you tonight with one thought... The world is not over.... We are not going to burn. Yes, we will see some major numbers, but DON'T PANIC. Stay strong, and keep tuned into this blog. Thank you all for reading.