US$700 billion bailout for US market

The House approval of the government's $700 billion financial rescue plan Friday gave stocks a lift but overall failed to set off much euphoria in financial markets that are facing the reality of a prolonged economic downturn. The Dow Jones industrial average fluctuated sharply, but managed to stay in positive territory. While lawmakers voted on the plan, the Dow was up more than 300 points. After it passed, the blue chips gave up almost all their gains before turning higher again.

From the above....one can see that the market may not react much as the approval is already priced into the stocks. It was the same situation here in S'pore and our market's reaction was worst....it went 66 points down at the end of the day. I have sold my FerroChina at 62c, losing 2.5c per lot. My total loss will be about $480 lor. Fuck!!!

For China Sky....I plan to hold on to it, since it went down to 39c. My buying price is 43c.

So.....my expectation is that, the stock market has already priced this approval and at the end of the day....end-up in the red.

True....this bailout may not be a great plan to save everyone, but not having this plan will be "Super Bad".................for everyone in the US and even here. So.....let's hope this can kick start things again. HUAT AH!!!