Bring on 2009!
Posted by moolahtime on December 30, 2008
Not much news today. The market has been slow but in the green today. Looks like there is a good chance for the Dow to end up by triple digits.
From the time I started this blog, we are ending the year with our gold, silver, and blue chip stock positions in the green. Some of the blue chips are at break even and some slightly in the red. I recommend taking some profits off the table as gold, in particular, looks to be overstretched and may retrench in the short term. No need to get greedy trying to attain another point or two. Our lone dog is SRS. I am been doing some options trading on it to recoup some of the losses. I plan to take a 3-6 mo hold position on my remaining shares.
Typically during the few days before Jan. 1, I look back on the year gone by and reflect on the positives. But 2008, unfortunately, had few, if any, at least from a business perspective. It was an incredibly difficult year, but I am thankful for my health and my personal relationships (family and friends). I was chatting with a colleague today and we agreed that in any other time, just one of the events of ’08 would have captured headlines as the catastrophe of the year: Lehman Brothers, Detroit, Merrill Lynch, Madoff, Wachovia, Bear Sterns, WaMu, AIG, and that’s for starters, all fueling growing unemployment rolls. With this as a background, I have a suggestion for the New Year, quoting from Malcom Gladwell’s new book Outliers: “Embrace the challenge”. This is my suggestion for 2009. For sure it will be a challenging year, but embrace it, and it’ll turn out better than you expect!
Also, have you completed your ‘09 resolution? If not, remember it’s not real until you put pen to paper and write it out. I do a new year’s resolution each year and find it more important to do so during these trying times and uncertain economic environment. I typically break it out into the following groups as it helps me to stay focused on my goals through the upcoming year:
- Family/Friends
- Health/Physical
- Spiritual/Creative
- Social/Community
- Education/Mental/Personal Growth
- Career/Financial
I hope what I have been writing has been of some use to you. This blog is a work in progress and will continue to be adjusted and improved upon.
Here’s to a successful 2009 and all of you be safe in your festivities.
- Moolah
