Sell on News

Early last week, I thought the DOW had inverted the 8,000 mark (making it the top of the range instead of the bottom), but then it bumped up a few hundred points on news bad enough to push the stimulus package faster. But now that it seems that some version of the bill will almost certainly be passed, the market is down several hundred points all at once. Definitely a case of "buy on rumor, sell on news". Oil futures dipped a little, too, although I don't think the volatility on that has been nearly as high as the stock markets'.

Press Conference, Paraphrased

I enjoyed watching Obama's first press conference while running on the treadmill last night. Was itching for a transcript, so I could take a crack at it (heavily paraphrased, except for the bits in quotes):

( Shorter, But Not Short Enough )