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STOCK MARKET In general, Flanagan does not recommend that long-term investors sell out of the stock market at this time. In the opening monologue, Flanagan announced the latest stock market statistics.
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Here are the statistics as written by Kirk L:
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"Market Statistics for 03/22/08
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Year to date, the S&P500, DJIA and NASDAQ Composite are down 15.6%, 13.4% and 21.1% from their all time highs made in late 2007.
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On an intraday basis, the S&P500 and the NASDAQ Composite have been down as much as 20.2% and 24.7% while the DJIA has "only" been down 19.4%, just shy of the 20% decline required for an "official" bear market definition some use."
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http://kirklindstrom.blogspot.com/2008/03/market-update-for-march-22-2008.html
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Flanagan pointed out that the recent drop in interest rates has been very difficulty for those who depend on risk-free investments for income. He made the following remarks:
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"Without a sound market, without a dollar, without sound trade, without a sound economy, we're nowhere. And those are obviously the priorities that we have to keep in mind. We've been there before. Interest rates were as low as 1% in 2005, so hopefully the economy gets righted and rates will begin climbing again to an acceptable level but one that will make the risk-free retiree a lot happier than he is right now."
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IMO, the remainder of the program did not add anything that would be new information for readers.
HAPPY EASTER TO ALL___Honeybee
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