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!
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.
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.
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.
Asian markets are down only slightly...if hardly at all; less than .25% on the Nikkei and China. Hang Seng is actually UP a bit. Nothing out of the ordinary for the first session of the week. Business as usual.
Straighten that knot out of all your panties, ok?
I am but a simple minded-idiot...
But it seems to me that the trashing of GM cannot hold good things for the market today. Any company in peril will turtle-up at this point. No more begging for bailouts. No more attempting to ride out the storm. Marginal companies will just file for bankruptcy rather than risk the humiliation of the Obama Inquisition teams.
Obamanomics
The Usurper’s firing of GM’s CEO (no matter that the CEO was an idiot) combined with 0bama’s political-erectile-dysfunction regarding North Korea’s impending missile launch tells the markets that the bears are about to arrive.
Not that you can't make some cash out of what's going on.
Well, OK, an average 4% drop before closing probably isn’t all that exciting anymore, but there have been DECADES where investors played against a smaller differential.
He's just simply rearranging deck chairs...
...on the Titanic.
“Obama firing the CEO of a capitalist company.”
Nothing to see here, folks.
Americans! Fear not! 0bama is pro-America, pro-Prosperity, pro-Capitalist—certainly not a socialist.
Pay no attention to the man behind the curtain.
It’s utterly amazing to observe the mass blindness of the American people.
I’m not kidding, 0bama could nationalize Fox News and the current crop of half-dead Americans would be like: “Well, if he needed to do it to save the economy then, OK”
What a bunch of boot-licking cowards we’ve become.
I’m not an expert, but I’ll throw in. Hussein’s decision that he can fire/hire captains of industry isn’t setting well with the markets.
See, Europe tried that before with kings and facists and National Socialists. Didn’t really work out too well.