Well, now that the bailout bill has passed, we should be heading full steam ahead. Although, I think I noticed a slight blip in that based on the Dow yesterday.
Back when I was doing a lot of stock trading in the late 90s, I remember how common it was to see the market drop instead of going up on good news. Not that the bailout is all "good news" for everyone, but many of those in high finance have been touting it as such. The reality is that, because it has been talked about for so long, it has already been factored into the market - and the stock market has become more of a knee jerk index based on immediately released news.
However, my specialty is real estate instead of stocks, so I'll try to stick with that from now on. The funny thing here is that our sales have seemed to be stronger during the past month than they have been for most of the year. Either people are just getting sick and tired of letting the bad economic news kick them around...or maybe we are in the beginning of a recovery.
Let's let the pundits battle back and forth on the news networks, while we quietly start getting the real estate market moving again without them noticing.
Dan
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