Technical indicators look ugly....as a ugly as an aggy's date on prom night.
GM's announcement was a very bad suprise for the analysts. The sub-prime messs is just starting to unwind. Things look a little scary right now. Actually, they look a lot scary right now.
If the FED stands by it's pledge to not lower the key lending rate for the rest of the year the markets could sell off in excess of 20%
Just my guess.
Oh, and have a nice day.
Beware the man who would rule you for your own good. He will never cease. He will regulate every aspect of your life, destroy your liberty and enslave you, and sleep well convinced that he has made the world a better place.
Didn't this stuff used to happen in October?
.
Fed will give in to political pressure at some point.
I would hate to be one of your patients.
I'm afraid it doesn't look good. Sure it looks like a common cold but you could be dying from pneumonia in a matter of years.
Of course, there is always SOME good news...(very actually)
The company (GM) reported record third-quarter automotive revenue of $43.1 billion and record global sales for the quarter of 2.39 million cars and trucks.
unless you are cashing in today or tomorrow, why does it matter?
Why do you hate day traders?Originally Posted by 1stTimeCaller
I'm not happy until you're not happy.
I thought they gave all of their money to the smart market people 8 years ago.
ARRGGGGHHHHH...
I'm not happy until you're not happy.
Hope it falls through the floor. I'll buy up me some stock and wait for it to go back up. Actually, would put more into mutuals and just let it ride...you know, not being near retirement and all that.
Behold the pale horse. The man who sat on him was death, and Hell followed with him.
Olevet Posse Pistolero
Winner of the Nobel Peace Prize 2015.
http://www.bloomberg.com/markets/currencies/fxc.html
Here is an ugly looking chart.
For the good old American lifestyle: For the money, for the glory, and for the fun... mostly for the money.
http://www.dowjonesindexes.com/
pretty bad so far
Yeah, the (utterly predictable) sub-prime meltdown is going to continue. I still can't believe Greenspan claims he didn't see the danger in allowing the ridiculous paper to be written. Talk about irrational exuberance.
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Well, you prepare them for the worst and when they get better and don't die they are very grateful and think you're a genius.I would hate to be one of your patients.
I'm afraid it doesn't look good. Sure it looks like a common cold but you could be dying from pneumonia in a matter of years.
Beware the man who would rule you for your own good. He will never cease. He will regulate every aspect of your life, destroy your liberty and enslave you, and sleep well convinced that he has made the world a better place.
And it will get worse.
The S&P broke below 1490. If it doesn't get back above that point before the close there will be a big sell-off in the am.
I really think than Benanke(sp?) is clueless. I really don't think he has a grasp of how serious the situation is.
One thing is for sure....either the stock market tanks or the dollar tanks a lot more. The FED can't save both of them.
The only option the FED has is to try and reinflate the real estate market and the rest of the economy which means the USD index will eventually fall to 50.
And I agree that Grrenspan knew he was creating the mother of all economic bubbles when the FED lowered the prime to 1%(or was it 1/2 %?)
Every time the FED intervenes against natural market forces it only makes the correction that much worse further down the road.
We need to elect leaders who understand the system is rigged for the benefit of big bankers and speculators.
This message brought to you by the RON PAUL FOR PRESIDENT COMMITTEE.
Beware the man who would rule you for your own good. He will never cease. He will regulate every aspect of your life, destroy your liberty and enslave you, and sleep well convinced that he has made the world a better place.
Aren't we better off with a strong dollar?
I'm not happy until you're not happy.
BTW, any bear rally in the USD is due to investors frantically searching for a temporary safe heaven as they yank their capital out of the equity market. In the past the bond market has been that safe heaven but this time it won't be.
Commodities will get quickly sucked down from the market downdraft.
In essence, if the FED doesn't react quickly the best investment option won't be which investment makes you the most but which investment option loses you the least.
Beware the man who would rule you for your own good. He will never cease. He will regulate every aspect of your life, destroy your liberty and enslave you, and sleep well convinced that he has made the world a better place.
If you're a consumer, yes. If you're a businessman trying to sell a product against foreign competitors, no.
The problem is that the FED has, imo, lost all control over the dollar value. No longer can they manipulate it's value like Paul Rubin did in the 90's as the Treasury Secretary for Clinton.
The emergence of the Chinese, Indian and other asian economies has significantlly weakened the ability of the US and Europeans to manipulate currencies and the world economy.
You can also throw the South American economies in there. And I am sure there are several governments who are not sympathetic to the plight of the USD because of the way they were hammered and forced into unfavorable economic agreements by the World Monetary Fund....a wholly owned subsidiary of the multinational bankers and investment firms(Goldman Sachs, et al.)
Last edited by FaninAma; 11/7/2007 at 04:19 PM.
Beware the man who would rule you for your own good. He will never cease. He will regulate every aspect of your life, destroy your liberty and enslave you, and sleep well convinced that he has made the world a better place.
Bring back teh gold stannard!!!!1111
(kidding)
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