Final Damage:
Dow Drops 777.68 (-6.98%)
S&P 500 Drops 106.62 (-8.79%)
Nasdaq Drops 199.61 (-9.14%)
If you were invested in our ETF Leveraged Allocation Model you would have been flat today or you could have been up over 2% in our Long Short Stock Model.
The Markets
I guess you could say the market didn't like the House rejection of the "bailout" package. The credit markets have also frozen up even more. Maybe its time our leaders in Washington start looking into other options that may involve a little more balance sheet analysis. No one seems to have a clue.
This brilliant bailout plan was flawed from the start. I really can't see how taxpayers can make money from this plan.
What we should do is let these assets (& Real Estate Prices) devalue and make insolvent companies go into receivership by following the model set forth by Washington Mutual...
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