Posted on 03/07/2009 9:52:29 PM PST by 2ndDivisionVet
With stocks mired in multi-year lows and the fate of General Motors and banks hanging in the balance, investors are unlikely to curb their flight from risk next week, putting Wall Street on track for another brutal sell-off.
One focal point will be a meeting between the US auto task force and GM, Chrysler and officials from the United Auto Workers in Detroit next week after auditors raised doubts about GM’s ability to survive outside bankruptcy.
Uncertainty over the plan to salvage banks will also hang over the struggling sector until more concrete details from Washington are revealed, leaving investors to fret that companies that were once pillars of the financial system will have to be nationalised.
The weak economy will likely be confirmed by a handful of economic reports, including a government report on February retail sales and a survey of consumer sentiment.
“There are, unfortunately, no guideposts to a lot of the market to allow investors to get a better sense of direction of where the market is going, where corporate America is going,” said Jack Ablin, chief investment officer at Harris Private Bank in Chicago.
“Short of that, we’re going to likely have to rely on Washington. Unfortunately, it just seems like Washington’s relationship with the stock market is strained.”
“PAINFUL” MARKET
With the Dow and S&P trading at 12-year lows, and the Nasdaq sliding to 6-year lows, market watchers will be looking for signs of whether a bottom has been found, or if indexes still have another leg down to go.
This week was the fourth week of declines for all three major US stock indexes, as the Dow Jones industrial average dropped 6.2 percent and the Nasdaq composite index fell 6.1 percent. The Standard & Poor’s 500 slid 7 percent, its worst week since November.
(Excerpt) Read more at thepeninsulaqatar.com ...
Barack Obama is a hard-left idealog (communist) who is hell-bent on bringing the US to its knees.
He, and his movement, are winning.
This WAR, and it is a war, cannot be won merely by voting for another politician in 2,4, or 8 years.
If you continue living as you have, you will wake up in 5 to 10 years with no freedom to speak of. Not to mention you and your family being destitute, sick, powerless, and very, very depressed—suicidal or homicidal.
It won’t go well for this country—ESPECIALLY this country.
It will not fall neatly for the left.
They will have to kill many, many people.
But don’t think that will mean you can fight your way back to freedom. By then, it will be far too late.
A culling will lessen their burden—fewer to fight, less to feed, more in fear which will breed passivity and compliance, etc.
It’s coming, Americans.
I was warning people about communists gaining ground in this country back in the early 90’s—and I was labeled an “extremist”, or an “alarmist”.
Americans are spoiled and, as of right now, showing no signs of being able to comprehend what is happening to them.
They are innocent and naive—aka, DUMB; aka, easy-pickin’s for the communists.
Did you think the communists just gave up and went home? Do you think communism just faded away?
The KGB spotted our greatest weekness decades ago. Not our greatest weakness as the USA, but as humans.
They discovered they couldn’t beat you with weapons. They merely changed tactics—and you might as well have been sleeping.
With all of their power, and all the time they had to wield it, they learned how to effectively manipulate the masses. They researched the human mind and how best to subdue and ultimately use it against you.
Specifically, how to use your ethics (your prime directive) against you (political correctness, white guilt, wealth guilt, success guilt, and on, and on).
They have guilted you into surrendering that which you said you would “die” to defend—and you gave it up without so much as a whimper.
You’ve been under attack for decades—never the wiser.
The left is fighting a war—the rest of America is wondering: “What the hell is going on?”.
Barack Obama is setting you up. He is LETTING THE ECONOMY ROT to grow fear in your hearts—to cloud your minds—to make you YEARN FOR RESOLUTION.
Then, he will offer the GRAND SOLUTION, the panacea. “I will take care of you. I will take the pain away.”
You think you are above this? When your children are losing weight, suffering illness, and hungry—YOU WILL GIVE IN.
YOU WILL DO ANYTHING THEY TELL YOU.
THIS is the left. These are the communists your grandfathers warned you about—and you blissfully, ignorantly, believed defeated.
“It can’t happen here.”
You think you are shocked at what is happening in the US now.
You have witnessed only a glimpse of what is to coming for you.
An almost 7 percent drop last week? At this rate the DJIA will flatline sometime around the 4th of July.
As far as the market's concerned, just remember this. DJIA has lost 35.53 points a day since Obama was elected. At that rate (which doesn't show ANY signs of slowing), the DOW will be at 935 on or about November 1st, 2009. Sweet dreams!
Dow @ 1750 next Feb
...need to spread the word through more communities to stop buying, while the beast is wounded! ;-)
Yes, thanks a lot for the confidence, NoBama! My dad is 71 and told me he lost over $960K of his retirement. Yikes. )=
I love that pic. It pretty much sums up everything about Present Potato Head.
I have to say, tonight I have finally seen doom clearly and straight on. It first started coming into sharp focus when I read the article about how the Obamassiah felt overwhelmed and bewildered by the complexity and difficulty of the job that the idiots of America handed to him. Then I read this article and several others like it at Market Oracle . . . .
We’ve gone over the precipice.
I may very well die, but I will most definitely not be going out with just a whimper.
I think we are now in perception valuation.
Many stocks are now trading at unheard of historical P/Es which should signal a bottom
course there is worry about what the Messiah will do next...
biggest irony is that the NYC red diaper baby (no I won’t say it) that more or less is the largest demographic on the Street and historically loves leftist Democrats even though they manage money (how can they do that and vote for idiots?)...anyhow...now they are reaping what they voted for.
but the money...not the Street infrastructure....but the cash which comes from everywhere....mom, pop, insurance, institutions, fund managers, governments, .....they are holding back and won’t invest
it’s sort of a reckoning for the leftist mindset of the wall street apparticks
you vote stupid, we control the money spigot, and good luck
We’ve got the government we deserve.
Qatar. The goto place for financial prognostications. Right?
Absolutely correct. But, let me lay one word on you...
INFLATION
Just wait until inflation starts to hit in 9 to 18 months. I think we really are in completely uncharted water. And, as George Will likes to say, "History repeats itself right up until the time it doesn't". I think conventional valuation calculations are reaching the point of irrelevance. Things are going to get much worse.
CASH IS KING!
The ObaMarket.
If you took a poll of investors - which will we see first - a 9000 Dow or a 3000 Dow, I’m not sure 9000 would win.
Cash is king until inflation starts wiping its value out...
I just want people to consider for a moment, just a moment, that we are being attacked from within.
I was raised around many Russian’s—some were defectors.
After studying the global left this is the only conclusion I can come to.
And Americans just don’t want to believe it. They can’t get their heads around the idea that THEIR government no longer has their best interests at heart—as individuals, that is.
Communists believe they are doing what is right—and THEY WILL KILL YOU, MANY OF YOU, TO GET IT DONE.
You think Barack is swetting the stock market—YOU ARE WRONG.
This is exactly what he wants—just observe his behavior, and his statements—IT DOESN’T FIT WITH A PERSON WHO IS WORRIED ABOUT THE MARKET.
If not that, THEN WHY ARE THEY HANDLING IT THE WAY THEY ARE?
This is Economics 101—IT’S RIGHT UNDER YOUR NOSES, PEOPLE!
This is just one area where your new government is lurching violently to the left.
The US is not sliding towards socialism—it’s augering-in to communism.
As I have said on other threads, by the time Barry gets done with our economy, we'll all be trading with wampum.
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