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And just to make things even more interesting, it's FDIC Friday! May God save us all. |
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Posted on 02/27/2009 5:43:39 AM PST by St. Louis Conservative
The stock price drop for drug stocks "reminds me of the knee-jerk reaction seen in the early days of the Clinton administration when they started talking about universal healthcare and coming down hard on branded drug margins," said Edmund Shing, a strategist at BNP Paribas.
Citi meanwhile plunged 37% after reaching a deal with the U.S. government for Uncle Sam to convert up to $25 billion of preference shares into common equity. The deal could take U.S. government ownership up to 36%, and existing shareholders would own 26%.
"I am positive future capital injections will be forthcoming as there is simply no way this company does not need, and will not need, more money," said Dan Greenhaus, an analyst in the equity strategy group of Miller Tabak.
(Excerpt) Read more at marketwatch.com ...
Down 139, soon will be below 7000
sw
“...soon will be below 7000...”
Maybe even today...waiting for the opening bell.
There’s becoming less and less to invest in. Gov’t is taking over everything. Expect the DOW to be at this level for a very long time to come.
Just imagine wide-eyed panic and breathless reporting on the Tee Vee news channels had a (R) been in the White House during this plummet.
He's not allowed to say that. You're not allowed to say that. 0bama is the Messiah. He inherited this mess from Bush, who is the source of all evil in the modern world.
The MSM / Democrat media machine will play that over and over and over until by the time we're old, Bush and Cheney will have come to people's houses with illegal assault weapons and murdered people's children and then stolen all their valuables.
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And just to make things even more interesting, it's FDIC Friday! May God save us all. |
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S&P Futures currently trading down -19.60 (more than 2%).
Haven’t seen a link yet, but NY Gov Patterson wants the Feds to underwrite municipal and state bonds. Marxism on the march.
Oh yes. The Drive by Media would be shouting “off with his head”..
0bama’s goal is the destruction of wealth, of capitalism, and of the middle class.
Link below to what he said on TV Wends.
BTW he said potentially we will see: 15 to 25% unemployment, Dow 300/SP of 3000 to 3500, and we won't come out of this until 2012...
Below this, nothing but air.
The bottom will have a “5” leading number...
That’s what I’ve been thinking for some time. Look at the longer term, draw its slightly upward trendline—and it looks like 6 is going to be challenged as well. Everything Obama’s doing is the downward weight that assures we’ll get there.
Pretty much. Watch what happens as the health care and pharmaceutical sectors get pounded in anticipation of ObamaCare, and as defense/technology contractors scale back as it becomes evident that there will be wholesale cancellations of military hardware contracts and absolutely no hope for multi-year procurement.
Look for the markets to tank today, maybe even a halt to trading.
At the time the Dow was up a meager 48 points around noon, when the woman reporter said; The Dow is headed for positive territory today, strong evidence that President Obama’s stimulus plan is working! Particularly his recent boost to the financial market!” (Can't you just vision the Liberal info babe on CNN or MSNBC talking here?)
I about lost it. But I wonder what they thought when it closed down 90 points later that afternoon? And after Zero announced Crap and Trade, more taxes, penalizing/harassing/Taxing Multinational companies, etc,.
Today should be a real good example of what the people who really know what is going on and know how to handle their money, think.
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