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On Your Mark, Get Set… Go Buy

That’s right, the world is coming to an end and my advice is to go buy shares of the companies that you have confidence in. Confidence? Who the hell has any confidence in any company? Remember what I’ve said in the last few weeks, having confidence in a company is different from have confidence in the stock.
As we’ve seen in the stock market lately, no one has any faith in the economy, the government as well as the stock market itself, but that doesn’t mean that there aren’t any companies out there that are doing the right thing while the rest of the world crumbles.
Overnight there were major declines in most of the markets. Japan taking a 9.6% fall, Germany’s DAX took a 10.8% dive, France shaved off 10% also, while Britain’s FTSE lost 8.7% after the report of it’s third quarter GDP fell 0.5%. All this news caused the U.S. markets to go into panic mode. The DOW was down over 500 points in pre-market trading. Trading was actually halted in pre-trading hours because of the fact that the DOW fell 500 points (which is the maximum that is allowed).
Now for the good news. The markets at the present time (11:00am) have somewhat leveled off and are in the range of being down 350 point, but I don’t expect it to stay there by the time 4:00pm comes around. There will be some major selling off going on again before we get to the weekend. When that happens you need to be ready to buy the stocks you want. If you are like me, you’ve been sitting on the sidelines with a good portion of you money. Well this is the type of day that we are waiting to take advantage of.
In some cases, you might be one of those people who have years to wait before you will need that money. Others might not have the time to wait, either way a day like this can help you get some of your loses back. Keep an eye on the market today and you just might get the deal of a lifetime.

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