Ameritrade reported profits were up and raised their guidance for the year but because of credit worries elsewhere in the market, the stock has taken a hit. Down nearly a dollar in intraday trading, there just doesn’t seem to be anything any of these financial companies can say or do to keep their prices up.
Retail is down, tech is down, financials are down, this is truly a bear market and it’s not going to be easy to find growth to invest in. I’ve got some Apple at $163 and some in the industry are predicting a drop to $150 but I’m not too worried about it. A fall to that price just puts the stock on sale for me, which is how I like to buy anyway.
The hardest part of this market is that being on the sidelines isn’t much better because the value of the dollar is so bad, you just can’t earn much staying in cash. I’d rather stay in the stocks I like and get some of them on sale here.
