On Tue, 22 Jan 2008 08:18:30 -0500, hk wrote:

Short Wave Sportfishing wrote:
On Tue, 22 Jan 2008 08:03:03 -0500, hk wrote:

...and Wachovia drive the DOW down a few hundred points today?

Is it the economy, stupid?

Nah - losses have been priced in by now.

It's an odd economy and I think one more like it used to be with more
reasonable lending standards and a more conservative approach to
making money. We've sold our real estate with one more to go and
there wasn't a hang up anywhere - money was available, the buyers had
solid credit and several banks were involved in pricing one loan.

That's a good thing.

On the other hand, Bernacke is completely out of his element here and
it shows. Too many academics on the Fed board and not enough
economists with market experience.

It will be an interesting day.

I'll bet you a fiver that the dow drops below 12000 today. Might not end
up today below 12000, but it will be there for a while.

Maybe - dont' see it now though. Fed just cut 75 basis points this
morning and probably will do another 50 on the 31st.

Hey - compared to 2002 when it was at 7500, I'll take 12,000.

Let's make it ends at 12,000 at the close of business. You take the
under, I'll take the over. If it ends at 12,000 - it's a push.

$5 - that'll be a couple of gallons of gas. :)