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Friday WaveWrap
Friday Wave Wrap: Profiting from ChangeWave News
September 26, 2008 Tobin Smith, ChangeWave Research

While Congress resumed bailout talks, we witnessed the largest U.S. banking failure in history as Washington Mutual (WM) was placed into receivership with the FDIC and JPMorgan Chase (JPM) acquired the bulk of the operations. The markets took the news in stride, and the Dow (DJI) even made a triple-digit gain. The White House has said it expects a plan by Monday, so this weekend's deliberations have historic potential.

While you wait with bated breath to see the final agreement from Capitol Hill, take a look at the tips and strategies in today's WaveWrap. And remember to remain calm whatever the outcome of this weekend. Panic never made anyone a dime.

Hit ’em straight,

Toby

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Enron All Over Again

It's sad to say that, less than a decade later, the Enron scandal is small potatoes. The current market fiasco is bringing the whole financial system to its knees. Washington Mutual is down 94%, AIG is down 95%, and Lehman Brothers is down 99%.

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