Wednesday, February 4, 2009

Defensive Stock Purchasing!!!!

Buying today the so called defensive stocks is still no sure bet to make even a nickel. I purchased the so called consumer stocks, KFT, PG, COKE, PEP AND VZ. I did the buying on a day when the market went down over 300+ points. I was at least even till today when Kraft Foods announced a write down and forwarding looking earnings projection.
This market stinks. I believe this market will stay at this point for a hell of a long time. The banks are not lending, (Thanks to Weasel Paulsen), foreclosures are still on the rise and the Washington nonsense continues no matter what the party.
The only thing that makes sense is to park all your $$$ till a real turnaround can be seen. The days of bottom feeding are over. Many people will not return to this market period no matter what the CNBC crew says. They say that there is a hell of a lot of money parked on the sidelines waiting to see a real sign to come back in. To that I say Bull---t. A hell of a lot of money is permentally lost and those holding funds are going to be extra cautious in returning.
Concerning Mr. Weasel Paulsen-I wonder how long it takes till be will be back on the Board at Goldman Sachs????

1 comment:

Marinka said...

If you'd like to park your money with us until the economy turns around, we're available! Win-win!
ITA with you about Paulson.