Wednesday, December 03, 2008
Not a Pump and Dump (A Proven Stock)
Since I am trying to increase my wealth in order to retire earlier, I am keeping a close eye on the stock market. I did not have any money in stocks prior to the current situation but I have been a lurker for years. I do have money in 2 401Ks but that is another story for another time. What I want to say is about Ford (F). Yesterday, it announced that it may be able to make it on its own, but want a $9B standby loan just in case either of the other two declare bankruptcy which would affect Ford because they use a lot of the same parts dealers, etc. Well to me this makes Ford seem like a good buy if they don't need a taxpayer bailout. However, my expectations of a massive buying spree was disappointing to say the least. Maybe I don't get it. Do people want Ford to take a $25B dollar bailout? It would put more money on their books but it would also add to their debt (If they plan to pay it back). Well, I for one will keep buying Ford, unless something radical happens. It was 2.70/share yesterday. When this stockaphobia people have is over and it starts climbing maybe I will be able to retire.