Monday, November 24, 2008

Is the bottom been reached, where is it headed now?

With the current difficult financial environment, my friend is already searching ways to minimize his costs, including searching for a cheaper auto insurance quotes, among others. He is still wondering what to do with his huge mortgage, hehehe.

Good news is: Obama is taking charge and the DOW got its respite: stocks finished higher by 6.5 percent. Citigroup got saved, I hope.

What we have to remember though is that financial shares are still down 61 percent for the year, and the S and P is still off 42 percent. However, will it reach the lows I predicted in my earlier post?

That remains to be seen, but to be cautious, I guess, many are still staying in the side lines.