The Fed cut rates again this week, bringing the level to 1%.
Monumental profits were reported by the big oil companies this week.
The Yen continues to gain strength against most other currencies.
The US Dollar continues to gain strength too, though some say not for long.
Another bank was shut down on Friday.
(click to enlarge)Next week we get more earnings reports, along with the election, and the important Jobs report on Friday. So far, we are getting the turning point in the markets that I mentioned last week. Lets see if the election results and the jobs report support this turning point.
"Worldwide, investors have lost $10 trillion in just the last month as share values collapsed."
For the buy and hold crowd, note that after more than 20 years, Japan's stock market still has not recovered! In the US, most sectors are now back to levels seen 10 years ago! Buy & Hold doesn't work; market timing DOES work, despite what you hear from the so called 'experts'!
Hopes are 'worst October' signals worst is past
Debt Markets in U.S., Europe Suffer Worst Month on Record
The Bet That Blew Up Wall Street
Global stocks suffer again
Fed Battles 'Big-Time' Economic Erosion With New Cuts
Fed Signals Door 'Open' for Cutting Rates to Lowest on Record
Bernanke makes it official. We are Japan
Beaten down, American consumers burrow deeper
US Home Prices Posts Record Annual Decline, Consumer Confidence Collapses
GDP falls 0.3% in third quarter on dive in spending
Chase to halt new foreclosures for 90 days
Fed currency initiative eases Asian jitters
Arab countries scramble to save their banks
Gordon Brown Asks Gulf Wealth Funds to Invest in U.K.
Barclays raises $12 billion from Middle East, others
Japan Pledges Fresh Crisis Action Measures
Bank of Japan Cuts Rate to 0.3% to Fend Off Prolonged Recession
China Cuts Interest Rates for Third Time in 2 Months
India Unexpectedly Cut Interest Rates to Spur Growth
Bank of Korea Cuts Rate by Record to Bolster Market
Iceland hikes lending rate to 18%
Ethanol maker VeraSun declares bankruptcy
Hartford Financial loses over half its market value
American Express to cut 10% of work force
Treasury sales could top $1 trillion to fund bailout
Stocks and Indexes mentioned in this blog are for educational and illustration purposes only.
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Just wanted to thank you for joining the Planet! If you haven't seen it yet, now there's a way to reach two trader audiences at once, with your blog posts as usual. Simply visit www.TraderPlanet.com and follow these simple steps to set up a dual blogging process (this will make your posts display automatically on your TraderPlanet blog as you post them here). It's a one time set up process that would increase your visibility and expert establishment.
Dual Blogging Steps for Trader Planet:
Go to My Planet --> My Blog
Click "Create Blog"
Choose a name and title for the blog
Go to My Planet --> My Blog
Click "Edit"
Click "Plugin"
Click "Activate" to Activate FeedWordPress
Click on "Syndication"
Under "Add a new syndicated site:"
For Blogger and WordPress put in your blog URL
Like:
http://user.wordpress.com/
or
http://user.blogspot.com/
If your using another blogging system you will need the URI of your
RSS feed. This can usually be found on the front page of your blog (as a link) or by using an RSS reader such as Google Reader or Firefox.
Put this address in the field.
Click "use this feed." If there are more than one option, use the
first feed.
Under the syndication tab, there is an "options" tab. Click this.
Change "Check for new posts" to "automatically"
Set the update interval to 45 minutes
Under syndicated posts there is an option "Permalinks point to:"
Change this field to toggle how post links will redirect (to trader
planet, or to your original blog).
If you have any questions, I'm here (and on the Planet) to help. Thanks! Have a great day!
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