Breaking News: Feds cut rate

[DoubleEdgeSword]

Feds have cut key rates by 0.75% just an hour before the opening of the markets.

http://money.cnn.com/2008/01/22/news/economy/fed_rates/index.htm

[DoubleEdgeSword]

In related news, world markets continued to slide overnight, with Japan's Nikkei market down 5.7% and Australia's market down 7.1%. These represent the largest drops in nearly 10 and 20 years, repectively.

http://www.msnbc.msn.com/id/22764080/

[DoubleEdgeSword]

Aaaaaaand, we're off! Market's down 450 points with no buyers in just the first few minutes. This is going to be bumpy ride, folks. But, it's true, it's not where the market opens, but where it closes that counts.

[db44]

Well, although the actual prices lag 20 minutes on E*trade, my overall acount shows me down about five-percent so far today.

[SparkleHugs]

So wouldnt this be a good time to buy stocks...if they go down, they get cheaper, right?

[db44]

We're getting there... Give it a few days/weeks/months.

[Whoda Thunk?]

If I had the cash, I wouldn't be opposed to buying stock right now. I have a friend who is probably snapping some up right about now.

[DoubleEdgeSword]

I moved some into cash a few months ago, now I'm bargain hunting. I'll see what it looks like the next few days.

[SparkleHugs]

But what happens if you buy now, and the down trend continues?

[db44]

That's part of the risk. Maybe wait until you see the trend start to reverse, then buy.

[Whoda Thunk?]

My friend takes his chances on proven winners- ones that always seem to recover.

[SparkleHugs]

That's part of the risk. Maybe wait until you see the trend start to reverse, then buy.


I think I'll pass. lol

[DoubleEdgeSword]

So, the Dow shook out down 128 points. Not as bad as some predicted. Perhaps the Fed's quick action took a bit of sting out the forecasted free fall.

[Richard Tafoya]

Yeah, it dived over 400 points early in the day and the Fed rate cut (which was announced before the market opened) began to ease the panic.

Still, worldwide markets continued their free-fall today based on fears that the proposed stimulus plan won't prevent a U.S. recession.

[DoubleEdgeSword]

According to the experts, and to historical data, it won't. So, the world markets have good reason to react this way.

[Richard Tafoya]

And while Apple reported record quarterly earnings after hours, their conservative guidance is pulling the stock and related futures way down. Tomorrow could be a bloody day on the tech side.

[DoubleEdgeSword]

Overnight, Asian markets improved on the Fed news while European markets at midday were still down.

http://www.npr.org/templates/story/story.php?storyId=18134783