An irreverent look at Wall Street
how much lower do you think we need to go?
500 should just about do it.Be patient.
The market wants the Dow down 1000 pts to price in this S&P news. 1000 is what is in everyone's mind, and then it most likely can be considered 'washed out'just grab some damn good dividend paying stocks (and large cap blue chips) at that point and hang on, that is what is going up after this mess clears out.Earnings are still good out there.
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