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Wall Street, famous for its Bull markets (that go up) is experiencing a bit of a Bear market.
A “Bear Market” is what they call a pessimistic market. The expression, ironically, has nothing to do with JP Morgan and the Federal Reserve Bank of New York’s contraversial bailout for the sinking investment firm, Bear Stearns. Bear Sterns (used to) provide lines of credit to subprime lenders in the US. This explains why Bear Sterns is now seeking (and receiving, to the consternation of some analysts) a two-pronged nudge from two of the Bulls still active on Wall Street.
The idea is to stave off the “ripple effect” of another firm flailing in the turbulent tides of the current economy. Combined with the Bush “trickle down” economic policies, it’s obvious the United States is trying to steady a very shaky financial float. European and Asian financial and political leaders are also sending out aids and advice, responding to the American SOS before the rough waters spread.
But online, people are still trading–stock that is, not economic mishaps. Online trading sans the professional broker is catching on, and sites like Zecco and thinkorswim are earning reputations for low cost and accessibility. Sentiment seems to suggest that if the big guys can play, why can’t we?
As blogs and columns proliferate the financial pages of the Internet offering advice and suggestions about what to buy, when and where, there is no lack of data for use (or misuse) by curious Internet users. A funny thing about a bad economy, losing is so ubiquitous that it becomes less of an issue–its winning that counts. So while the Bears and Bulls on Wall Street may be holding their breath, this as yet tiny online trend suggests that not everyone is submerged in doubt.
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Thanks for the trackback! In all honesty, I think we play better than the big bos just because we don’t have the added stress of required performace and the stresses of managing other folks’ money.
Comment by Jorge — March 20, 2008 @ 12:45 pm
Just because “the market” is off doesn’t mean you should stop trading stocks. “The market” doesn’t have much to do with the individual stocks you pick. There will always be winners, even in a tough market. Zecco just makes those trades a lot easier on the wallet :)
Comment by Llama Money — March 21, 2008 @ 3:47 am