The big bad bear has alot more mauling to do before he is satisfied. http://www.youtube.com/watch?v=7miRCLeFSJo&feature=related
I read yesterday an article on the auto industry. It mentioned that a nationwide auto dealership is going out of business and closing 19 dealerships around the country. I was watching the local news tonight (tahoe/reno) and Jetway Chevrolet an area dealership is shutting its doors. .....this shit storm is just getting started as far as the economy..... trade accordingly.
heard on cnbc today that GM is burning through $1 billion a month now...and try getting a car loan now-i hear your locked out of loans if your fico is less than 720/near perfection....Guess that means joe six pack aint buying no chevy.This is scary.I doubt gm will last more than 12 months without merger of some kind and the stock at 50cents... btw,isnt that a 59-60 impala?those were bad ass.
Oh yeah I forgot....I called BOA yesterday and inquired about an auto loan, they said 3 years same job, verifiable income with tax returns faxed to them and minimum $2000 a month from job and an 820 fico score to qualify!!!!!!! I am not sure what year the impala is. The pic is from. madmaxmovies.com. My dad had one in black with the red interior when I was a kid in the early sixties.
Come on, 820 minimum...I have to head to the local BoA tomorrow morning. I'll ask about it and verify this.
This is utter BS. Maybe for the best rate but even then doubt it. I applied for a business loan 6 months ago that I did not follow through on (mostly because if Obama is elected and taxes rise substantially the business model will not be profitable enough to be worth my time and effort getting it off the ground) and I received a call last week letting me know the funds were still available and that they were willing to offer me a substantially better rate. This is a $1.8M business line so doubt that they have tightened things up so much on a $30K auto loan.
I tried to tell ya...... As I said weeks ago the bear has much more mauling to do. Everyone is looking for, waiting for and wants to pick the bottom.......till that's washed out....the bear has more bodies to MAUL. LOVE IT!
this is a bear market...you should not be investing here and not until the market bottoms and starts moving up.You are not supposed to buy until market starts breaking out from a base.Anything else is knife catching.Jim Cramer is the worst offender here giving out stocks to buy.He s been doing this all the way down.The only honest broker is the one that is telling you to short.I have not heard cramer or ANY market whiz on TV give a short call.Douchebags.
this market will bottom months from now. everyone expects a one day bell ringing event many things have to unwind and play out before stocks can move higher and a bull market can return. how bad will global recession get? there is so much market and economic poison out there this market and global markets have to deal with a ton of issues. death by a thousand bear claw cuts keep your powder dry, trade the volatility HAPPY TRADES! 1flyfisher