I bet your wishing it was cut short today too. Then you wouldn't have lost all Fridays gains and then some. Lowest close on the DOW since Aug. 15th. I just don't see that 15k in the cards for this year.
DOW is going to drop below its intraday lows set in Mid August, Dow might even drop further going below 12k sometime in mid December. The bear is back just like I have been saying.
Doug Kass thinks it is too oversold http://www.thestreet.com/s/kass-bet...r-trends/newsanalysis/investing/10391593.html
You know, I have to agree with stocktrad3r on this one. There is no credit crunch. Just this weekend, I saw some people in a store making purchases with their credit cards. See, there's the proof. NO CREDIT CRUNCH. I'm also bullish because some people I know were posting stuff on Facebook. HOW MORE BULLISH CAN IT GET? But wait, it gets better. Remember how investors like to see growing profits and a growing economy? WRONG!!!! Investors like falling profits and a slowing economy. So to sum it up, I saw some people using their credit cards and some people are posting stuff on Facebook. SUPER HUGE RALLY ON THE WAY. THIS IS JUST THE BEGINNING TO GLOBAL SMARTIE STOCKS. BUY, BUY, BUY!!!!!!!!!!!!!!!
One of my best friends heads up a large credit desk for a very large hedge fund and he has NEVER seen the credit market this bad. There will be a rally when the fed cuts so I will be looking to get long a few of the financials especially the ones who have done the worst recently such as the mortgage providers but it will be a short hold only as rate cuts alone cant solve this prob
Alright, who are you going to trust? Your friend who works in the industry and probably has some firsthand insight and experience. OR...... Stocktrad3r and me who have seen people using credit cards thus dispelling the myth of the "credit crunch". Who you gonna trust? Government bond yields falling hard while corporate and commercial yields are soaring. OR.... Stocktrad3r and me who saw people using their credit cards. You naysayers know nothing about economics or fractional reserve banking. It's good when banks lose money and their balance sheets shrink. Somehow they will be able to LEND even more money against declining reserves. I repeat, buy Global Smartie stocks to take advantage of slowing economic growth which is NOW A VERY GOOD THING. If you don't buy NOW, you'll miss your opportunity to particpate in lower corporate profits which is ALSO VERY GOOD.
Dude- what is your issue? You are totally stearing people in the wrong direction. Clearly the best play is to go leveraged long financials and homebuilders. If you dont borrow every cent you can get your hands on to invest in these rapidly depreciating assets (preferably through futures and options-extra leverage!), you might miss your chance to be part of the bail out programs that are sure to come when we really hit bottom. Want a play? Citi baby. When they're super-SIV idea falls apart (now that HSBC has taken 2 SIVs onto its balance sheets, the "honorable" play Citi hopes to avoid) you are gonna wish you had sunk every last penny into it. Or better yet- E-trade! Their questionable loan pool vastly out weighs their assets. Buy now or miss the derailed train to the bottom of the canyon! Own that lux 3 bed ranch in sunny Gangwarfaretown CA? Double down with both a vacation home in beautiful Foreclosureville FL, and a Las Vegas timeshare! Your losses can be written off!