Call Us Today! 1-503-452-1210 | 1-888-755-6546|E-mail: evaluation@rutherfordinvestment.com
Rutherford Investments Logo

Rutherford Investment Management DOES NOT utilize or conduct business through whatsapp or any other app.  We are not traders or brokers.  We do not open accounts in which you will be making trades. We do not invest in or trade options, Bitcoin, or any other crypto currency.  We conduct business with new clients only after you reach out to us by phone at our main office number: 503-452-1210.  Before we open an account for a new client we go through a detailed paperwork process and have multiple phone conversations and/or in-person meetings. We manage your investments only through accounts that you open, in your name, at established brokerages such as Charles Schwab and Fidelity.  If you are interested in having us manage your investments please call us.

Bill Rutherford Quoted By CNNMoney.com

CNNMoney.com

Dow sheds 486 points: Post-election worries about the weak economy are front and center.

by Alexandra Twin, CNNMoney.com senior writer

NEW YORK (CNNMoney.com) — Stocks fell sharply Wednesday, with the Dow sliding as much as 513 points, as Barack Obama’s historic victory gave way to renewed worries about the struggling economy.

The Dow Jones industrial average (INDU) lost 486 points or 5%. The blue-chip average lost as much as 513 points earlier. The Standard & Poor’s 500 (SPX) index lost 5.3% and the Nasdaq composite (COMP) gave up 5.5%.

Investors were taking a classic “buy the rumor, sell the news” response to President-elect Barack Obama’s victory over John McCain, said Bill Stone, chief investment strategist at PNC Financial Services Group. […]

Market Update

Yesterday the market just had its second largest up day ever; up 889 points. This rise came in spite of historical lows in the consumer confidence index (backward looking and volatile) and a nationwide drop in home prices of 16.6% (a real threat to the economy). The Fed is yet to weigh in with a rate cut which will almost certainly happen today. In the meantime, the Fed has increased the money supply by 25% in the last three weeks, a truly astonishing number.  The rally occurred toward the end of the day, with banks stocks getting a big lift in the last two minutes of trading. No doubt this was short covering and therefore not a sustainable rally.  Volume was very heavy (a good sign).

I do not know if this is the market bottom, although the October 13 bottom has now been tested twice and held both times.  I frankly expect at least one more test of the bottom, and of course any more BIG bad news could send the market lower.  (There is plenty of bad news in the market valuation already, news that a few weeks ago would have been considered big bad news, but has now become commonplace-the market has become inured to a degree). […]

October 29th, 2008|Categories: Comments from Bill|Tags: , , , , , |Comments Off on Market Update
Go to Top