careful-Here is the reason for Sell off

AT&T announced that they have experienced a dramatic increase in shut off's for both phone lines broadband units due to a slowing economy. as soon as AT7T announces this,the market tanked. obviously the effects of housing are spreading to the broader economy. that was the arguement set forth by delussional bulls; housing never spread into the broader economy. guess what? they were dead friggin wrong. larry kudlow should be thrown off the air.
Also troublesome was the consumer credit number which was sky high:
Consumer Credit $15.4 bln vs $8.0 bln consensus, prior revised to $2.0 bln from $4.7 bln

 

how else was little joey going to get his G.I. Joe with the kung foo grip?

 

this is real evidence that we are either in or about to head into recession. this is NOT a normal economic pull back after years of growth.this is much worse.

 

Or, perhaps because cell phones have fully proliferated the market and are main stream, AT&T is finally running into competition of people using their cell as their primary line.

I, for one, know that I don't have a hard line. Lots of people I know don't either -- and many shut theirs off this year.

Tell me when cell-phones start shutting off -- then I will get really worried

(that isn't to say I am a blindly charging bull -- just the opposite. I just don't think this is the evidence you are looking for...)

 

Old news.
CEO Stephenson announced slowing consumer sales in Phoenix at a conference.

Came out around 2:30 PM EST.

 

weve recently discussed shutting off all our hardlines because we use the cells so much...why waste 50 a month on the hardline?

 

I havent had a landline at home for two years,, Two cell phones, efax, printer , scanner and Balckberry from work. Not sure why i would really need a home phone.

I think if somebody really wanted to get a hold of me, there are about 4other options.

EF

 

Merrill Lynch said earlier today that we are already in a recession.

 

ive gopt tolearn how to do faxes from my hp printer...the book is damn confusing ...it says if you a voice mail system that u have to shut off something in the hardware but doesnt say what exactly because that is a can of worms and billions of phone calls to tech support....

 

Its not the recession or consumer spending that is making a shut off phone lines, its the change in technology. I am planning to shut my land line off, since cells phones suffice for our needs. Its clearly a shift in technology. Why pay $30/ month when you can use your cell ?

But the institutional sellers made you sell your stocks today didn't they? Haha.. you shouldn't have panicked...next time stick to your guns.