Posted on 03/29/2009 10:55:46 PM PDT by GLDNGUN
ALL 11 Asian markets that I monitor are currently down.
(Excerpt) Read more at finance.yahoo.com ...
The market of recent weeks is a sucker’s rally, IMO.
Market no likie Obama firing rhe CEO of a capitalist company. YIKES
Over the long term, markets typically increase in value. In the short term, ANYTHING’S POSSIBLE.
Oh, the drama!
the CEO.
Agreed. And, the USD is rallying against most other currencies. A sure sign of fear. Should be a VERY interesting morning. Perhaps I get to short me some S&P500 futures.
That *bears* repeating.
(Pun intended).
President fires one of the biggest CEOs of America?
Markets should go up?
Even the Dems on Wall Street saw it coming.
The spin is that the market is spooked that Obama will not bail out the auto companies. However, Obama is in the pocket of the unions, who are the losing party in bankruptcy. Obama will replace Wagoner with a union-friendly CEO and then bail them out.
I was struck today by the headline of a U.S. President asking for the resignation of the CEO of GM....
Startlingly, I always thought that this was the role of the INVESTORS.
Very strident giant leap toward socialism.
“(Pun intended)”
It put a smile on my face.
I predict the US markets will hit all time highs some time late next year, or the year after.
Then again....
“I was struck today by the headline of a U.S. President asking for the resignation of the CEO of GM....”
“Very strident giant leap toward socialism.”
Call it what it is, Mussoulini-style Corporatist FASCISM.
And the Monday bloodbath that’s coming in the markets is going to be a sight to behold. At SOME POINT, the sheeple better to begin what is happening to them, or we are ALL SCREWED.
I think I will change my tagline to “When can we FIRE Obambie?”
What do you think?
While I reserve the right to change my viewpoint depending upon conditions and sentiment, I’m looking for a market drop to circa SPX 766, perhaps 750, for a long entry. That’s not a huge drop, especially considering where we’ve been and how (not very) long ago it was. That would be -350-500 DJIA points from here. I’m not in any way forecasting a market recovery and certainly not an economic recovery, but IMO the odds favor a constructive posture from some selloff point. I do not think we will revisit the 666 lows for “a while”. A lot will depend upon upcoming earnings season. It is not clear to me how far expectations have been brought down, but it’s clear (to me) that the surprises are probably going to be to the upside.
The thing that has made “bargain hunting” difficult through February or so has been the slow, grinding nature of the declines we saw. That is a very, very difficult (and generally unrewarding) type of market to bottom fish. The superior conditions in which to buy are sudden and armageddon-like. IOW, you want to buy when it looks like the end of the world is imminent and the market is reflecting that.
I don’t think the GM thing is particularly market moving apart from one day or so.
This is a trading call, not a LT investing call.
Another ‘Sucker’ bounce is coming to an end.
If you are wrong, will you bail me out? ; )
It means that when ZERO stated that “the worst was behind us” and that the ‘recession is over,’ which we all knew was untrue, he was (again) absolutely ignorant of what drives financial markets!
The markets responded kindly to the announcements by the Fed last week that they were going to buy more toxic assets. Then they read the fine print.
What we saw last week was brief intoxication, followed by a beeyotch of a morning after headache. The markets will continue to fall as long as ZERO is talking about more bailouts, especially with today’s news that ZERO is forcing out the CEO of GM.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.