Bear Stearn going to $2 in the wink of an eye, SPX dumping down another 2% and all of the mighty will have fallen. It was a few years ago when everyone swooned to be a part of an investment bank and now they are going to enjoy the unemployment line. Its time gentlemen for crash mode. Black Monday, Black Tuesday, f*ck Black March and Black April. Its not going to be pretty and we may test 2002 lows. Thats right. 2002 lows. Good luck to all.
and good luck to you John. I have to wonder who'll bail out J P Morgan? Is that when they run the printing presses all day and night?
Unemployment rates are going to skyrocket over the next 12-18 months, I really do think we will see rates as high as 8-10% by mid to late 2009...GDP will fall below 0%.
Yet another value added thread on ET, full of insight from an experienced veteran trader. Will this place ever become more of a "play by play" message board by wanna-bees? That, my friends is the REAL question.