Hurricane Rita Downgrade Eased Fear.
The stock market closed about unchanged today thanks to the downgrade of hurricane Rita from Category 4 to 3. There are bottom fishing buyers that are buying retails and other industries that had been hit hard this past couple of weeks. Healthcare companies surged today because about 9 companies will be able to offer prescription plan to senior this coming January. This last couple days of buying actually worry me and I think there are still further downside to go. I think the storm will still cause some disruption to the energy supply and the energy companies’ stock will continue to move up.
It's not when you buy. It's when you sell!
