President Barack Obama Message Board

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Politics : President Barack Obama

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To: bentway who wrote (99038)	8/6/2011 12:21:28 PM
From: tejek	Read Replies (1) of 149317

Ted, any bad new could precipitate another market sell-off. It could come from Europe, or domestic politics. Last week was just a warning of the frail state of the global economy. Take it! I understand that. I moved mostly to cash when it became clear the debt ceiling mess was getting worse and more protracted. I was down to only my core positions........stocks which I consider to have significant long term upside. Unlike you, I don't have the luxury of being totally in cash long term. And unfortunately one of my core positions was DNDN, the stock the news is saying had the worst one day drop [63%] in the history of the Naz. It came as a complete and utter shock to everyone including analysts. That coupled with the downdraft from the debt ceiling mess wiped out half my portfolio. Starting near the close on Thursday I started buying stocks with my cash. That's what I do......that's how I survive......buy low, sell high. I had been following Europe very closely during the past week because that's what's been hurting the market. On Friday, when news was coming out of Europe that they were standing behind Italy and Spain coupled with the decent employment report, I began to load up on more stocks........ones that were at their 50 DMA or better. My survival depends on making my monthly nut..........I can't work out of the house because of my acute allergy to dustmites. I have tried to get temp work where I can work in the house but to no avail. Now I am totally screwed. Monday is going to be a nightmare. I am going to have to sell my house if I am lucky to find a buyer. So, Chris, F U. Don't sit there and judge me. I am not a screw up. Why do you think I have been so freaked out about the lack of compromise in DC. I see very clearly the direction this nation is going without compromise........and with this constant partisan bickering. Why do you think I stand behind Obama who is about the only adult in DC and take all the crap from you all on this thread. People were saying he needs to be a man. Show some 'balls'. Invoke the 14th. Well it should be clear to all of you by now that that would have only made things worse. We don't need more testosterone, more machismo......in fact, we need less. Rs would have started impeachment proceedings in the House and a constitutional crisis would have commenced. And all the credit agencies would have downgraded us.......not just the S & P. We have to stop fighting among ourselves. This country has become one big circular firing squad.........and people are falling left and right. And it looks like I am next.

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