The Stock Nerd

This is just a VERY early morning post that I want to get out before the stock market opens today. The stock market opens in 1 hour and 33 minutes (while i’m typing this). Taking a look at pre-market data, it seems the stock market is going to most certainly open with some pretty big gains. Lately, the market has been setting historical records all over the place. In fact, yesterday the Dow Jones Industrial gained 936.42 points (which is an 11.08% gain!), which is the most ever since the Great Depression. Although it seems like the market is gaining some ground, I heavily doubt that is the case. This is a huge mess that we’re in, and we could very well see the gains posted easily reverse. I don’t want to scare anyone here though, that’s not what i’m trying to do at all. I just hope people will be cautious to buy right after a day of record breaking gains. Ever heard of the suckers rally? I’m going to link you guys to an article from February 2008 that is a favorite of mine. The guy who wrote it pretty much figured out what was going to happen. It’s perhaps the best prediction i’ve seen to date regarding the economy long term.

I should have another post later today, most likely regarding what we see this morning in the market.

- The Stock Nerd

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