U.S. stock futures signal no follow through(letdown by no sign of further China stimulus)

Market Watch ^ | 03/05/09 | Steve Goldstein

[TigerLikesRooster]

At this moment, Dow Future is down by 105.

[TigerLikesRooster]

Ping!

[gondramB]

While I’d prefer the market be up - its pretty damn sad to see the Chinese being better capitalists than our government.

[southlake_hoosier]

The news today also includes a statement from GM that it may not be able to continue and that AIG bailout will fail.

Not that anyone at FR wouldn’t already know that, but it will have an effect on the markets today.

[TigerLikesRooster]

This is truly ironical.

[TigerLikesRooster]

If both announcements are made publicly, we may have 4% drop or more. Are they all coming out today?

[autumnraine]

Oh no! The radio told me that the stock market was “rallying”. I think at one point I even heard 13 whole points!

[TigerLikesRooster]

It’s now down by 96.
It may have been up at some point. Not now.

[philly-d-kidder]

The QQQQ’s will breakout of the gate Going slightly higher in the first half Hour and take all the overnight Contracts...biting on yesterdays Good results. The Market will drop tghe rest of the Day with a slight Post Lunch Rally when the Market makers return after a few wines for a buzz and then the last Half Hour Drive the qqqqq,s into the ground!

[EBH]

Add onto that the report posted in the sidebar about our own insolvency and the post from last night in the Houston Chronicle about the FDIC not having enough to cover this years bank closures. FDIC is raising fee's to make-up for the shortfall, but with banks already struggling...? Plus US BANK cut some 88% off their dividend yesterday. Taking it down to $0.05

[ReleaseTheHounds]

Did you hear John Harwood trying to “take on” the notion that the stock market is a “forward looking” institution and that it doesn’t like the policies coming out of the Obama Admin? His reference point was “the market was wrong in October 2007 when it was up around 14,000... so why should we think it’s right now?”

What a loon — all the sycophants trying to sustain Obamanomics are just delusional. I liked seeing another trader from Chicago follow him with a blistering attack. It won’t be up on You-Tube the way Rick Santelli’s rant was (because who cares about John Harwood) but the bullies in the MSM defending Obama are starting to take some hits.

And I agree: I don’t think we’ve seen the lows yet.

[Man50D]

The stock market will continue to tank so long as Obambi and his fellow socialists are in charge. Cloward-Piven Strategy

[Real Cynic No More]

So, it looks like yesterday was a dead cat bounce.

[autumnraine]

Really. All us Freepers knew that throwing billions into sinking ships wasn’t going to do anything but waste the money.

Shame that our government either doesn’t care or is too stupid to see it.

[autumnraine]

I remember learning about the Depression and what a bank run was when I was bout 7 or 8 watching “It’s a wonderful life”. My mom explained how a bank run worked and I said very scared “Could that happen now?” and she said “Noooo, now we have laws and the FDIC to protect us if a bank fails” I asked “But what if they (FDIC) runs out fo money?” and she said “That’s virtually impossible, every bank would have to run out at the same time”.

Looking back, A) I really was a big ole nerd wasn’t I? and B) No one even imagined that possibility of the FDIC not being able to protect everyone. This is like nothing anyone has ever seen before.

[autumnraine]

Dead cat bounce, I hate the analogy being a cat lover, but completely understand what you mean. That nominal jump was even starting to come back down before closing yesterday.

[TigerLikesRooster]

These days, it is a dead emaciated cat. Since it is lighter, it could bounce higher.:-)

[Real Cynic No More]

I thought of that when I saw the results last evening. The futures this morning seem to be bearing that out.

[NY.SS-Bar9]

My guess is that we are still 20%~30% away from the bottom.

Unfortunately, the government (and I include the administration and BOTH parties) is doing everything it can to wreck any chance for a recovery.

No growth for ten years is a very real possibility.

[MeneMeneTekelUpharsin]

What’s with all of the gloom and doom? God is still in control. Turn to God and everything will work out just fine. Turn your back on God, and things will not go well. It’s not rocket science.