Wednesday, April 9, 2008

Stocks Headed Lower

Signs are pointing to a lower level for stocks here. UPS guided lower, and people view UPS and FedEx as good indicators of the overall economy. I see the Boeing news had the opposite effect most were thinking. I've talked about this happening before. Stocks often go up when an announcement like this is made, even if its negative. It takes the unknown away. Investors hate the unknown. I was hoping to pick up some Boeing shares in the low 70's, and I still think it will happen once today's news wears off, especially if there is overall market weakness. I think it will be a great stock to own moving forward.

Greenspan is going on the defensive trying to clear himself of this crisis. Although it's not entirely his fault, he's right in the middle of it, and it appears he's going to get labeled with it.

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