1) Oil looks like it is ready for a new leg up after this bull flag has completed 2) EC looks like it is ready for another leg up, too 3) Sometime this summer, WM,HBAN,FITB, or another large regional bank will admit it can no longer function without a merger or help from the Fed Once these hit as a trifecta, the US stock market will experience a waterfall decline. We're getting close.
There have been no acts of intervention from the fed in a long time. No infusions, no bailouts, no rate cuts, no discount rate cut, nothing
I also believe some financial is going to fall apart any day and further drag this market down. Whether it is WM or whomever I don't know for sure but somebody is going to crumble. There is way too many negative factors out there. Stagflation High Oil & Gas prices Consumer Sentiment Sucks Home Values dropping Americans Net worth dropping with home prices Earnings outlooks are declining Auto industry Sucks Real Estate Industry Sucks Financials facing more writedowns, dividend cuts, capital raising etc etc etc....what did I leave out? There are A LOT of thing we have to work through before we find a bottom for this market. I do not see the bottom in sight for this market and that's the way I will continue to play it. I'll trade the volatility, take select long entry positions when they present themselves and remain short overall with a bearish negative bias to my positions. This is Just the way I see it.
Aren't you the guy that mentioned there was nothing wrong with WaMu because you still saw their TV commercials, back in November when it was trading in the 20's? At some point I suspect you will discover, as I did many years ago, that markets are priced based upon peoples expectations of the future, not the past or present. The Fed almost always moves after the markets have priced in their actions, not before. The Fed follows the markets.
He really said that? Thats almost as bad as Hedgefundtrader2 saying the economy is great because people are wearing Nike's and listening to ipods .
<b> Here are some beauties for you</b> ------------------------------------------------------------------------- stock_trad3r Registered: Jun 2006 Posts: 6593 11-01-07 08:43 PM And no one cares about CFC or wamu all bad news priced in --------------------------------------------------------------------------- stock_trad3r Registered: Jun 2006 Posts: 6593 11-15-07 06:10 PM CFC business is well intact and the stock will rebound in time. ------------------------------------------------------------------------------ stock_trad3r Registered: Jun 2006 Posts: 6593 11-19-07 04:09 PM There is a country wide where I live The building still intact. Still in business. This stock will rebound. -----------------------------------------------------------------------------
#1 is occuring now. If #3 takes place over the next week, it is going to be very ugly for world financial markets.