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Author Topic: Christmas 2008  (Read 919 times)

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godoftrading

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Christmas 2008
« on: December 17, 2008, 10:34:16 AM »
Christmas 2001 and 2002 was real bad. It was hard to keep positive with a recession, the stock market plunging and 9/11 still fresh in everyone's heads. However, there were still jobs to be had during those days. Not all industries were shrinking. It wasnt all bad news.

This time is different. Every industry out there is shrinking. Some companies have had a hiring freeze going on for several months. I cant find one industry where there is any hint of bullishness. There is news of more lay-offs to come in 2008. Major companies have gone out of business are on the brink of going out of business. Local businesses that were in business for over 20 years are now closing their doors.

Even if you have a secure job, you cant expect any growth, big raises, promotions or bonuses. Basically, you just walk in the door for a check each day and hope that tomorrow wont be your last day.

Houses continue plunging in value with no end in site.

I can only surmise that Christmas 2008 will be the worst out of any in a few decades....

landersmorgan

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Re: Christmas 2008
« Reply #1 on: December 26, 2008, 12:26:36 AM »
I think we need to keep our cool. Trading and being scared at the same time don't mix.  On a brighter side, when the economy starts recovering, we are going to start watching a lot of hot stocks all over the market. Right know we just have to ceoncentrate on cherry picking the best.

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