10/29 newsletter
*** Market
The market has been very volatile in the past two weeks. But if you hold your breath, the major indexes closed exactly the same as 10 days ago. Personally I think the October selloff is almost over. Although it may not appear to you a lot of changes on SP500, quite a few stocks moved down 20-30%. My portfolio is down ~5% so far in October. Not as good as I want it to be, but acceptable. And amazingly, I have not traded a single stock in October. Maybe next week. I held up my breath pretty well this round, part of it is also I am fairly busy at work.
There are two scandals that may have long-term impact to American economy landscape. Vice President's top aide was indicted by grant jury. Not sure if President's chief can be spared. This will significantly impair this adminstration's reputation and political power. The validity of Iraq war (and spending) and Bush's reelection is questioned severely. The other scandal is the UN's oil for food sanction on Iraq/Iran. Investigation has shown large scale corruption. There may be some US companies that will be indicted.
Steve
The market has been very volatile in the past two weeks. But if you hold your breath, the major indexes closed exactly the same as 10 days ago. Personally I think the October selloff is almost over. Although it may not appear to you a lot of changes on SP500, quite a few stocks moved down 20-30%. My portfolio is down ~5% so far in October. Not as good as I want it to be, but acceptable. And amazingly, I have not traded a single stock in October. Maybe next week. I held up my breath pretty well this round, part of it is also I am fairly busy at work.
There are two scandals that may have long-term impact to American economy landscape. Vice President's top aide was indicted by grant jury. Not sure if President's chief can be spared. This will significantly impair this adminstration's reputation and political power. The validity of Iraq war (and spending) and Bush's reelection is questioned severely. The other scandal is the UN's oil for food sanction on Iraq/Iran. Investigation has shown large scale corruption. There may be some US companies that will be indicted.
Steve
posted by Steve at 8:31 AM
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