0.6

0.6% thats how much the national economy expanded in the 4th quarter of 2007. This is the slowest rate of growth since 2002. Expect contraction in the first quarter of 2008.

The Federal Reserve cut interest rates an additional 50 basis points. After a sharp rally on the news, the Dow Jones Industrial average ended the day down 35 points. Now the waiting game begins again. It is unlikely the Fed will cut interest rates in the near future, there is a need to assess the impact of these latest cuts.

The FBI has launched an investigation into 14 different financial entities in regards to fraud commited against consumers of sub-prime home loans. The ball of yarn continues to unravel and the counter trend rally off of last weeks lows, might be running out of steam. Companies reporting quarterly earnings over the next week to ten days should be a major influence in equity markets.

I would love to say the low is in and the time to buy stocks is at hand, but I can't. That doesn't mean I'm right, but if the low was made last week, there should be an opportunity to revisit that level before the next bull run begins.