Quote:
Originally Posted by JohnnyD
When that day happens, I'd bet the market falls 3-5% the day of the default and another few percent when the credit rating (which is should be decreased anyway) is reduced, recover a few points as people buy in on bargain priced stocks and then sit stagnant in a "150pts up, 150pts down" day to day trading like the market has been doing for a few months now.
I'll tell you though, anyone with some liquid cash on-hand should dump as much as they reasonable can afford when the Dow gets down near 11,000.
|
Guess I was only half right. The report on consumer spending didn't help things...