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The world didn’t end.

One horrid day and our year’s gain were wiped.

Desperate, CNBC called Warren Buffett. He gave his usual spiel:

Companies I like, I like even more when they’re marked down.

Down days always make me feel good.

Was yesterday a buying opportunity? My friends thought it was.

I have no idea.

I nibbled and bought a little LOCO, GILD, JNJ and I bottom fished WFM — though normally I hate bottom fishing. It was a gamble.

I don’t know what caused yesterday’s drop. Most “observers” discounted the overseas mess — from Gaza to Ukraine and now really tight sanctions on Russia that might really hurt.

There is talk of the Fed raising rates early. It’s talk. Maybe that’s it?

Earnings have not, generally been ebullient. But uninspiring enough to put the market on a major plummet? I doubt it.

We’re been through 300+ down days before. They aren’t pleasant.

If you have stocks you like, keep them. If their fundamentals have changed, dump them. Old philosophy.

Futures are down as I write this at 7:30 AM.Yuch.

I’m keeping today’s post short. I’m going to play tennis at 8:00 AM. I’ll be back by 9:00 AM.

By then we’ll have this morning’s important unemployment numbers — first Friday of each month. Cross your fingers.

To help save our economy,

OldPeople

the Government will start deporting seniors (instead of illegals). This will lower Social Security and Medicare costs. There are two benefits:

1. Old people are easier to catch and,

2. Old people will not remember how to get back home.

HarryNewton
Harry Newton who finds tennis more pleasurable than watching this week’s ticker.

  • pahowley

    Possibly the still exurberant stock market is just out of step with the reality of the American economy and destructive government policies getting worse every day. And be careful about exporting senior citizens. The lines for the buses could be massive making the flow of illegal kids coming here look minor.

  • Cliff

    Judging by this morning’s ticker your friends who bought yesterday were wrong as usual. I should write a book called “Stupid Moves By Harry Newton’s Friends.”

    • Harry Newton

      when should they have bought?

      • cliff

        Early 2009 like me.

  • jon

    Correct, you’re suppose to buy when there is blood in the street, but it does take nerve.

    • Harry Newton

      Or stupidity.