i smell blood

There will be blood on the market if the short-term trend continues. I'm not much of a technical analyst but that much is easy to figure out.

Following the latest data on corporate performance, I'd say were going to see largely oversold stocks.

The old saying goes "buy when there's blood on the market." As we don't often see moments where its that bad, I think those of us who are liquid should count ourselves fortunate to have a good buying opportunity coming right around the corner.

For those hanging on to portfolio's in the redline, it will be agonizing. I think the key would be to keep emotions out of the decision making.

WSJ: Most Economists Say Recession Has Arrived as Outlook Darkens

Phil Izzo lat Thursday, March 13, 2008 talks about evidence of a recession.

"The U.S. has finally slid into recession, according to the majority of economists in the latest Wall Street Journal economic-forecasting survey, a view that was reinforced by new data showing a sharp drop in retail sales last month." full text

A recession is traditionally defined as two consecutive quarters of negative GDP growth. I don't think this has happened yet. If I may venture a guess, I doubt that it will. That is at least as far as this year is concerned.The FED is too aggressive. Maybe next year the U.S. will see the recession, as defined.

a dose of the best medicine

"A long time ago, a visitor from out of town came to a tour in Manhattan. At the end of the tour they took him to the financial district. When they arrived to Battery Park the guide showed him some nice yachts anchoring there, and said, "Here are the yachts of our bankers and stockbrokers." "And where are the yachts of the investors?" asked the naive visitor." jokes.net

grapevine: New trading floor at the Fort; dodgy mining company

Heard only in the unofficial form:

Trading Floor
My grapevine tells of the construction of a new home for the Philippine Stock Exchange. What I've heard is that there will only be one floor to replace the two physically separate venues currently in Ortigas and Makati. The new venue will be at the Fort.

Mining Company
Also, there's been some talk of a new Mining company in the Philippines that is soliciting investments. I'm told that it seems dodgy and questionable. I don't even know what the name is. tsk tsk tsk.

Stock Dividends from BPI
I'm kicking myself for buying a few BPI shares at 63 last December. A few days ago, I was told that, as a consolation for me there's some good news to offset the loss. BPI is to dish out some stock dividends this April. Twenty percent (20%) they say. I sure hope its 20! Last I checked, BPI went on a long slide and was down to 51!