Don't have time for a long post. But if you have stocks that you are planning on selling in the near future, be careful. IMHO the market is in for a huge dip.
Rumor has it that Bear Stearns, which has 7 trillion mortgages, will get downgraded from A+ to bad debt by Moodys on Tues. Not good for market. They deny that they dont have the money to cover the bad debts. But we will see.
Here is a link:
http://biz.yahoo.com/ap/070804/wall_street.html?.v=2
And here is Bear Sterns (BSC)
http://finance.yahoo.com/q?s=bsc&x=41&y=20
just check ALL the major investment firms and mortgage companies (countrywide etc).
When a company like Bear Stearns gets downgraded to bad debt it can have a rippling effect on the market as they are one of the top five investment companies and provide money to keep the market going.
Just my "ramblings". A financial planner is the one to talk to.
There will be some bargains for investors like myself who are in for the long haul. But maybe some shock for those who want a quick return.
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