There’s the 10 year chart.
There’s the 4 year chart.
You can see the mess of 2008 in there. And now you get to see today’s bloodletting. Bank of America, a mainstay of the Dow Jones Industrial Average (DJIA) took a whacking today. It’s about time. If you are one of the poor schmucks out there that has had to try and short sale their house or do a loan modification, you’re probably doing cartwheels down your street right now. Today was the worst day since the original implosion in 2008. Citigroup and Morgan Stanley took their licks today too. Today was definitely some kind of ugly. But I’m not going to jump out any window or cut my wrists. I’m bullish on the bull—t.
Personally, I don’t care what Standard and Poor’s has to say. I don’t think they’re standard or poor. My brother called today bemoaning his inability to load up on Bank of America tomorrow morning. He’s a really smart guy. Savvy investors are going to load up. I saw this after 9/11 and here we are 10 years later, getting ready to load up again. I feel like Phil.
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