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Friday, October 10, 2008 10:42:48 AM
If the market opens down 300 and goes up in anticipation of Bush's speech at 10am EST. Once they realize what an empty suit Bush is and his reassurances that the FED will provide more liquidity is just more government meddling, the market could plunge down 300 again.
You can bet that Joe Sixpack will be watching the market tomorrow morning. And when our useless President fails to save the day, Joe S. will call his broker and bailout at any price. SPY gets a 70 handle. The DOW cracks 6,000 as volume swells heading into a weekend.
Place a few cautious buys at about ten minutes before the close. Cooler heads will prevail over the weekend as people see a chance to buy quality stocks with single digit PE ratios.
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