DOW down around 100 at the close... Nasdaq UP slightly.... whew!

[scheming daemons]

Go into the weekend with a SMALL amount of hopefulness that the worst is over.

At least the freefall levelled off.

[flamingdem]

1. I share your relief..

.. while this might just be a dead cat bounce, I'll take it~!

Happy Weekend!

[WeDidIt]

2. I put an order in on my 401K

Moved everything out of mutual funds, bonds, overseas investments and cash positions.

Put it all into Blue Chips.

The transaction occurs when the markets open on Monday.

I figured, what the hell, I can't lose much more and if it bottomed out today, I stand to make up my losses over the next few years.

[scheming daemons]

4. Good move... I think I'll do something similar....

[RichardRay]

5. Let me know how that works!

Really, if I had ANY freaking resources at this point I'd be doing the same thing.

Luck!!

[kurt_cagle]

7. Move into Blue Chips

Sounds more like a casino play than anything.

I'm not inclined to ascribe anything to this as a "bottom". The market swung across a range of nearly a 1000 points today not once but twice, and had fallen 300 points from it's peak at 3pm EST until its close, which looks far more like the consolidation that everyone was expecting. Add into that the fact that the SEC is hitting short-sellers hard, and I'd dare say that this was just a case of extreme volatility.

8450 is around the +20% mark on the 200 month moving average. You may see some retrenchment from here, but with a TED at 4.61 and a purchase of the banks by the Fed no sure thing, I woudn't be surprised if we don't hit the 200 MMA in the next few weeks, which puts us around 7000.

[RichardRay]

3. I actually take that with a bit of hopefullness...

a lot of those guys hate the thought of letting two days go by without being able to adjust their positions through the exchanges. If they're willing to go into the weekend with what they've got it actually is an OK indicator.

[elleng]

6. Know when to Hold!

"Wall Street seesawed Friday, with the Dow Jones industrials spinning from an early loss of nearly 700 points to a 100-point late-session advance while investors looked for bargains after eight straight days of massive losses. The Dow still headed for its worst week ever, though, as investors still worried about credit markets that remain near paralysis. . .

At the start of Friday's session, losses for the year totaled a staggering $8.3 trillion, as measured by the Dow Jones Wilshire 5000 Composite Index, which tracks 5,000 U.S.-based companies representing nearly all stocks traded in the U.S.

In the final half-hour of trading, the Dow rose 130.62, or 1.52 percent, to 8,709.81. At its low point Friday, the Dow was down 696 at 7,882.51, just 60 points above its low in Wall Street's last bear market, 7,286.27, reached Oct. 9, 2002.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 9.99, or 1.10 percent, to 919.91, while the Nasdaq composite index rose 41.38, or 2.52 percent, 1,686.50."

http://www.nytimes.com/aponline/business/AP-Wall-Street.html