I'm not sure about the logic that is being used by some that more regulation can fix the problems that regulation created in the first place. As I posted earlier, many of the problems we are now facing can be traced back to policies our own government made. Now there are proposals on the table which call for even more government action by changing banking requirements, allowing the government to buy different assets, and otherwise just mucking more with the system. I just can't wait to see the new proposals on the table that the guys in Congress will throw out when they reconvene on Thursday.
As a side note, I decided to put my money where my mouth is. I actually haven't made a trade in several months. The market, with its current volatility, is a scary place. That being said, I decided to try and make some money off of this. The stock market had a huge run today, its biggest up day in several years. Of course this followed the biggest down day so it kind of needs to be put in perspective. At the very end of the day, I shorted the Nasdaq by buying QID. I think this was a short term bounce and fully expect the market to reverse course again in relatively short order. I'll get out quickly if I think the market turns and limit my losses, but I definitely think we are heading down until the government does something stupid.
Post a Comment