Tuesday, June 24, 2008

Feeling bearish

Today was the first time since I've started investing and trading that I truly felt bearish about the next 6-months in the economy. With oil fluctuating wildly, the Fed spinning inflation out of control, and basic material prices shooting up, its tough to believe that the general market is anywhere near its bottom.

Sure, I still believe there are some sectors out there that could do well. For instance, technology companies, specializing in infrastructure and communications, will benefit greatly from widespread travel budget cuts.

However, financials will continue to suffer along with the construction and medical industries.

Maybe the Fed will say something intersting for the economy at the conclusion of its meeting tomorrow, but its doubtful.

It's a wait and see game. And so far, we've been waiting and seeing the market go down.

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