More of the Same

Economic News:

It's been exactly 10 days since my last post and, well, it's only gotten worse. We were warned that that it would get worse before it got better. But, in general, the economic news was mixed over the last week and half. The main focus on investors' minds has been the fear of nationalization of the banks.

Market Reaction:

Not surprisingly, the market has reflected the fears of investors. The Dow and S&P have fallen below the November 2008 lows, which had been the threshold indicator of a bear market. Now, only time will tell what will happen next, but the momentum or, "prevailing bias" as Soros would say, is to the downside.

Investments:

Unfortunately for me, I jumped in about 9 days ago and scooped up shares in GE and RIMM at what I thought to be at a great value. RIMM had fallen almost 17% before I went in, but I've watched as it sank another 17%. But this is a long-term play so I'm not too concerned. GE, however, is one stock I hoping will rebound soon. Again, I purchase it at an attractive price, but saw it decline another 20%! I'm holding on this time as I've learned from my dealings with Wells Fargo that the market sometimes just makes no sense.