This past week Money Hacks Carnival #38 came out. CreditCards.com hosted the carnival and released a great edition. I recommend everyone to check it out. Here is the link for this edition.
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Money Hacks Carnival #38

After the first three week we had in October, it was nice to see the great week that just occurred. It could be a sign if things to come. The election is in less than 72 hours and the race is tightening up. At this point it could go either way. I look forward for it all to be over.
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As for the stock markets, I think the worse may be over. Unless we end up with a one political party control of Washington D.C. The Dow was up nearly 14% this week, while the NASDAQ gained 11% and the S&P 500 jumped 10% during the same period. I love weeks like this and these are the weeks that we need to see more of.
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In this week we’ve seen that the financials are loosening their grip on their money. As well as the fact that we’re seeing the acquisitions of the smaller/troubled banks getting scooped up by the big dogs. PNC has taken control of the Ohio based National City Corp. This is what needs to be done if we ever want to see growth again in this country.
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The Federal Reserve lowered the funds rate down to 1.00%. It hasn’t been this low since the summer of 2003. At this point they can’t lower it any more. so I would imagine that if anything they’ll leave it at this level for awhile. I mean what else are they going to do in this economic turmoil?
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The volatility in the stock market has slowed down from what we have been seeing for the last few weeks. The VIX has come down quite a bit after hitting a high of around 90%. That’s good for stability, but bad for the day traders out there that were have a field day with the Ultashorts Powershares. Then again that why the VIX was up so much recently.
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I’m looking forward to some great gains again in this coming week and plan to take profits where I can. I say that because like I said earlier, there is an election taken place this week.

photo by Walter rodriguez
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After last week’s roller coaster ride in the stock markets, I look forward to more of the same. The volatility was off the charts (well almost) as the VIX showed through the week. With this much movement in any given stock, the possible gains are amazing. On the other hand the loses could be too much for most of us to handle.
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Going into this week, we need to be aware that we have still not seen the bottom. As a matter of fact I heard some say on Friday that last week was the turning point, but I beg to differ. If any of my readers here follow me on Twitter, you would have seen that at around 1:30pm when the Dow was up about 300 points, I responded to another who said that the markets were doing great and would continue for the rest of the day. My response was to get ready or to start selling because the tide was about to turn. I had a feeling that the DOW as well as the other markets were about to go bad.
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Feelings??? I know I tell my readers all the time that you feelings have no place in the stock market. I wasn’t referring to my emotional feelings, instead I was talking about the vibe of the markets. After you spend enough time trading within the markets, you start to sense when the tide is turning. Add on top that my knowledge and experience tells me that there is a lack of confidence on Wall Street.
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As we go into this week of trading, you need to hope for the best, but expect the worse. Make any trade you do wisely and have your exit strategy ready. Watch the trend, keep an eye on the technicals and leave you emotions at the door. Get ready for another wild ride.
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So in the immortal words of the WWF (World Wrestling Federation)…”Let’s get ready to rumble”.