I was wrong about the Inauguration day stock market results today (and by today at this point I mean yesterday as you are reading this – or even days or weeks later day). I didn’t think that the market would react so negatively to news but when I heard it started with the Bank of Scotland having billions in losses I can see how things got off to a rough start. The question then is for those people who are shorting the market, at what point will the cash that is on the sidelines go back in to bounce things back. I don’t think it is a vote of confidence or no-confidence, it is simply a reaction to the news about how bad things are.
More and more news is being introduced into the economy about more lay-offs. That means that either the government is going to have to do something more aggressively to get people working or there will be a lot more hungry and homeless people walking around the streets in America.
If you are investing in this market, make sure you know your entrance and exit points and stick with them. The rally that people were expecting didn’t come today. Will it come after all the Inaugural Balls are over on Wed? If you are shorting the market, you hope not. If you are betting on the economy, you hope at least for a pop.
We’ll have to wait and see.
California Warrant News:
I think if you file your Fed and State retuns before the end of the month there is enough money to go back to you and the warrants won’t be issued till returns get filed after Feb 1 (or on Feb 1). That means if you get your W-2s and other tax documents early, please file as soon as you can if you are expecting a refund from the Fed and the State.
No word yet as to what kind of incentive rebate the Fed is going to offer to the American people yet. That should be forthcoming in the next few days or weeks.
Keep those questions and comments coming, folks!
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Kim Isaac Greenblatt
Business and Economy As Usual
Tags: Business, California Warrant, economy, stock market
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