The news out there right now is just bad and looking to get worse. A few things that caught my eye
- Markets reach down to twelve year lows.
- California unemployment reaches double digits.
- Buffet has his worse year ever.
- States budgets will continue to take a beating for years.
- Government needs to take even more action to help ailing AIG.
They say, when there is no good news, that is the time to buy stocks. I am not so sure I believe that right now. I still think we are only in the 6th inning with plenty of more pain to go. At the very least, I think we are probably flat for the next several months here so there is no rush to buy anything. I may take a small long position and see if a bounce happens, but it will be a very small position. It will be a position I will get in and out of quickly either direction the market moves.