Monday, January 21, 2008

Tomorrow Is Going To Suck

I have no idea how bad tomorrow is going to be, and it's possible that I'm worrying too much about it. But, after seeing several major worldwide indexes fall 7+%, I'm feeling pretty sick about what tomorrow will bring.

Obviously, there's not much that can be done... but, man, it's going to be brutal.

Altria Group (MO), for example, closed friday in the mid-$75's. In Frankfurt, it was last trading at under $72. Apple (AAPL) was going for around 160 on Friday. In Europe, shares were changing hands at 150.

Will we finally see some capitulation? Is a bottom near? Ugh, I should stop thinking about it. What I am feeling right now reminds me a lot of grade school when you did something stupid (like putting earthworms on your teacher's desk), and you get called into the principal's office. You sit and wait outside knowing that you're going to get into a lot of trouble really soon.

*** Edit ***

Seeing as how the Futures are currently indicating a rather large gap down in the market, I guess it really will be extremely painful. Question is, do I want to lighten up on some of my longs... it would be really bad if I did so, and it turns out that tomorrow's sell-off creates a bottom. Ugh. What to do... what to do?

1 comment:

Corybear said...

Be glad that you're not just about to retire and banking on that 401(k) that is dropping 20% or more...