My one stock holding was SilverCorps Metals (SVM) and it had done very well over the past few months. At one point, I was up 98%. In the last two weeks, it started a freefall and lost about 20% in price. It seemed that every time Obama opened his mouth about the bank tax, the market would take a nosedive, especially in the last week.
I'm not placing all of the blame on Obama because his only real influence is giving investors confidence. He can't really dictate market machinations.
He isn't building confidence, he's eroding it.
I sold my shares today. I still made money on the deal, but I'm going to stay out of the market until I hear rhetoric from the President that makes me want to invest. Until then, I'll pay my mortgage and keep my profit sharing plan.
This sucks.
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