Troops wait for Dow to hit ‘rock bottom’

[unhappycamper]

Troops wait for Dow to hit ‘rock bottom’
By Erik Slavin, Stars and Stripes
Mideast edition, Wednesday, March 4, 2009

Petty Officer 1st Class Raymond Hughes wants to get back into the stock market — but not yet.

Few servicemembers would blame Hughes for his skittishness after the market’s latest lows.

The Dow Jones Industrial Average dropped below 7,000 for the first time since 1997 Monday after investors reacted to worse-than-expected news on industrial and construction output.

Insurance firm American Industrial Group’s posted $61.7 billion quarterly loss announced Monday further signaled to investors that more bailouts may be necessary for some of the country’s largest financial companies.

"Banks are making bad choices, and while I’m definitely interested in investing again, I’m hesitant to do so at the present time," said Hughes, of Submarine Group Seven at Yokosuka Naval Base.


Rest of article at: http://www.stripes.com/article.asp?section=104&article=61101