Tuesday, July 22, 2008

"There's always the afternoon"

Last post ended with that line, and it did not take that long for the market to stabilize. The afternoon then brought some enthusiasm. Wachovia's call must have been terrific, this new Steel guy must have put the moves on the market big time, because with those numbers, even with some significant actions like the drastic dividend cut and the headcount reductions, there was a massive bounce in the stock. More power to him. Sorry I missed it.

Now waiting for WaMu, but there are many parts of the market that revived just a little after the morning that provide some good near term direction.

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