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Is It Time To Bailout Of The Stock Market?

With all the talk going around about the condition of the stock market and the government planning to spend $700 billion of the taxpayer’s money to save the financial sector, it may be time to sit on the side lines for a while until the dust settles.
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I don’t know about you, but I’m still not confident in the condition of this economy. The bailout that the Treasury dept. is looking to do is two-fold. One of course is to save the financials from their own greed and stupidity. The second is to bring confidence back to Wall Street. In the media this weekend, it been said that the two day rally has shown that the confidence has returned to a certain point.
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I disagree. This little rally in the latter part of the week was nothing but a rouse from the smart money on Wall Street. I expecting this week to be another week from hell. Right now the Market is sitting at 11,388 points. What is that suppose to mean? Nothing. If you look at the big picture you will see that the trouble of being over-extended hasn’t gone away, it’s only become the governments problem and I’m waiting for the other shoe to fall.
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Don’t get me wrong, I have always been a bull in the stock market and a positive person. I’m only talking like this because there is too much corruption going on in the government as well as Wall Street and I’m not confident about the economy at this point in time. I know that we will get through this nightmare but not over night. It’s going to take about 6-12 months before we see the light at the end of the tunnel. If by some crazy chain of events Obama gets elected, then I do expect this turmoil to go on longer.
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I said in a earlier post that for the time being I’m going to be a spectator in the stock market and sell into any rally. After reading more of this weekend headlines and other news stories as well as researching the stocks that I’m in, I’ve decided to sit on the stocks that I have (there’s only a few at this time), and hold steady for the week.

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