Our next round of investments is about to begin. The arrival of the Blooomberg a week ago ended our short period of operating in degraded mode. Now we are about to unleash the full operational power of this process. OK, that is a little dramatic. Let's just say we've got all the tools that go in the toolbag now.
On a broader note, the market is looking like it will finish January down about 6.5%. That's better than the -13.5% it touched intraday about ten days ago, but all is not well with the economy. The Fed has cut rates 1.25% in the last ten days, which has provided most, if not all, of the comeback. But the effects of those cuts will take a lot of time to ripple through to income statements, and in the meantime, it could be choppy. As it turns out, we like choppy. We make more money in general when the smooth sea turns into a rough storm. But choppy normally means that most people are hurting for awhile.
We called a range for the S&P for 2008 between 1300 -1550. We haven't closed below 1300 yet, although we've been there twice intraday. Hopefully we can get closer to 1400 soon. I have a feeling that the market will finish slightly positive for the year even given this rocky start.
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