[talkgold]

Have we hit a bottom? Will it goto 8300 like Cramer Predicted? Or maybe even lower like 7000 like Jim Cramer said was possible.

Personally I started putting some money into the market yesterday and will continue to if it goes down further. One thing I have learned is that ever downturn brings a bigger upturn. Just gotta have patience.

[geoff01]

The trick is getting in at the bottom, get in too soon and the profits from any eventual upturn are reduced.

[themoneyman2]

6500

nothing positive until after the election.

and at the rate of the downward spiral...it's gonna go fast

[geoff01]

I suspect that if anyone bought stocks on Friday they might see a nice profit in the weeks and months to come, IF, the market increase is sustained.

The FTSE 100 opening 200 points higher at 4132 - a gain of five per cent - with the Dow Jones following suit a short while ago.

The rescue package was unveiled by Chancellor Alistair Darling and Gordon Brown, who called for a radical overhaul of the financial system.

"This cannot simply be a short-term rescue to paper over the cracks," he told City leaders.

"Only a surgical approach that gets to the root of the problem will now work to ensure that the problems do not return."

Earlier, the Prime Minister said the action being taken was "unprecedented but essential".

"We must in an uncertain and unstable world be the rock of stability on which the British people can depend," he said.

The Government is taking a £20bn stake in Royal Bank of Scotland with a further £17bn for Lloyds TSB once it is merged with HBOS.

But Mr Brown said it would not be "permanent investor" and there would be strings attached including a cap on executives' pay and bonuses.


http://news.sky.com/skynews/Home/Bus...00810215118899

[talkgold]

I had been buying all the end of last week. Thursday and Friday in particular. When the dividend yields of parmaceutical stocks at 9% you know stock prices are too low.

[geoff01]

Alan Sugar is worth over £800 million. He knows a bargain when he sees one.

LONDON (SHARECAST) - Computer millionaire and TV star Sir Alan Sugar thinks Woolworths is worth a punt having just snapped up almost 4% of the battered high street retailer.

The tough-talking host of the BBC’s The Apprentice bought his 3.88% interest following a plunge in the share price to just 3.14p from over 21p less than a year ago.

Experts said the move demonstrates that some of these bombed out stocks are starting to represent value despite the likelihood of a recession.

Woolies has also agreed to sell nine of its shops to Tesco over the next six months for as much as £9m in cash. The money will help reduce debt.

It expects to pocket a profit of about £7m if all nine leases are transferred, which will be disclosed as part of the operating profit from property transactions. Their net asset value is around £1m.

The company denied last month that it had put its retail arm up for sale despite a record interim loss after a poor first half at the division.

It posted a deficit of £99.7m in the half year to end July, up from £63.8m. Sales fell 3% to £1.1bn. The group also cautioned that deterioration in the credit insurance market may increase the group's working capital requirements.

[geoff01]

I see the markets are up again this morning. Wonder how far they`ll climb?