Having dumped 50% of my stock during the weekend, I was a bit surprised when the market was still bullish on Monday. Nevertheless I dumped all my dollor-tied stock in exchange for gold and oil yesterday. The market proved me correct today.
Unfortunately I can't do the same for my 401(k) allocations. What a blunt robbery for the Fed to tie almost all 401(k) options to the dollor, while keep printing notes to bail out the greedy bear (Bear Stearns that is).
In my humble opinion any investment tied to dollar is going to the sink, so I will keep my 401(k) deference to the minimum.
My real concern is when consumer spending shrinks, Amazon revenue is going down. The current $74 stock price will not last long, and many people will get downsized. Better start cashing out and embracing for a tough period of recession.
I will hold on to AMZN until their Q1 report is out, although Q1 is usually tricky.
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