Thursday, November 6, 2008

Uncomfortably Numb

Down 10% in two days. I'd ask but I know the answer - we're not having fun yet. Last week was fun, though.

I for one don't think the outlook has gotten any worse over the last 48 hours. This WSJ headline - "Stocks Sink as Outlook Darkens" - seems like reaching to me.

Things are bad and everybody knows it. Some folks still have to sell stocks and we don't know how many. We are obviously in a recession and historically that has been a better time than most to buy stocks. The problem is that it's a tough time to own stocks.

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