After being down over 300 points at one time yesterday, the Dow Industrials bounced back to finish down just over 15 points. The financials led the way today as traders feel that the Fed will lower interest rates soon. Some speculate that it has already secretly done so. While the reader may think that it was prescient that yesterday's entry referred to Citigroup and JP Morgan as long term buys, it was merely coincidence that those stocks finished up strongly today. Although I do believe that both are solid long term investments, no one can make better than an educated guess as to the short term direction of the market. Another financial related stock in the portfolio, AIG finished up today as well.
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