I read about this AMT thing a few days ago and I agree it could have some nasty effects when combined with the seemingly precarious state of the economy right now. As much as the doom and gloom MAY be overdone, how much longer can the markets/economy/consumer hold up under all the bad news?
I for one am not looking forward to the jobs report this Friday. If it's bad, that's the indicator I'm looking at to see if the recession talk will grow legs. Even if unemployment only grows marginally and still historically low, I bet it'll cause a panic.
Still like GME as a company even in bad times, but the stock price will be effected. How much can a Fed cut stave off if we lose jobs? Regardless, I'll try to take the opportunity available in slow down, recession, bear market if I can...I'll be looking for good buying opportunities and probably have to ignore the gloating of the abita's of the world who think they "called it" on GME even though the overall market may be in turmoil. I'm an optimistic person. Bad times can't last forever, but we've had a decent roll of good times, which usually can't last forever either. Slowing economy may be inevitable. Recession may or may not.
Gridiron- If we get a mkt pullback and you're looking for some diversification you might look at ATVI on any dips < $25 or ntdoy<$70 or ERTS<$53-4. From a counter trend standpoint I've been avging into BAC, C, USB, and WFC for a few weeks now on dips and "IMO" they look attractive. I also like NUE in the low $50's and X in the high $80's to low 90's. Many of these stocks look attractive right now but if you're looking for bargains I think they would be just that on any dips. Just a few un-asked for picks. ;-)
add to those DE, AG, MON, AGU, CNH, APD,FWLT, FLR, CBI, GS on any pullbacks if you think the doom and gloom is overdone. If you think we are entering a bear market then short CMI, MA, any and all (airlines, retailers, banks and homebuilders)
optimistic is my middle name. However, the Congress inability to govern can/will have serious consequences to our economy. during this subprime mess it is imperative that our government lead. No new taxes would be a good start, along with a major cut in spending which would strengthen the dollar, lower oil and gold, decrease interest rates. Along with that congress needs to increase the limits on Fannie Mae, Freddie Mac, the fha. They also need to change the banrupcty laws so that the lenders will be more willing to work with borrowers, and a tax cut on companies and the middle class would help spur the economy, the energy bill they are working on is a good start but they want to raise taxes on the lost fuel tax it would cause. This is stupid and will cause a Bush veto. Thus it will not pass. The should cut spending instead to offset the loss in rev. a 3 trillion budget is big enough we do not need to give 535people more power over our lives.
Along with this a optout feature for social security would be nice. SS gives companies moving offshore an automatic 15% savings on labor costs. A reform of worker's compensation to give those playing by the rules the same advantage as those hiring illegals.