Ben Gets Religion!

So the Fed finally cried uncle and lowered the discount window by half a percent. I was watching CNBC when it happened and futures went from being way down to way up. Woo hoo! Thanks Ben, you get to keep your job ;-)

The financials, which had been battered down by the whole subprime “crisis”, led the way today. One of the leaders today was Bank of America, which I own. I knew buying BAC was a good decisions when I got in at $50. It promptly went into the toilet, but with a near 5% dividend, I knew there would be bottom support. Of course, the fact that Warren Buffet recently bought 9 million shares also gave the stock a boost! :) Right now we’re at $51.71. I’m going to hang on until $55 and get out.

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