Still a long way from the bottom. Paulson and Bernanke are finally beginning to get it. It's not about the oil prices, the economy is directly linked to the availability of money and credit which is disappearing as the housing foreclosures continue and the prices plummet. Without the availability of dollars and the reduction in the job market, the consumer cannot spend. The emergency attempts to rescue Fannie Mae and Freddie Mac are clear attempts to try and stabilize the financial crisis. Indymac was taken over by Federal Regulators and more banks will soon follow.
The reason we are still a long way from the bottom is because the quarterly reports are just beginning to be released. The housing market and tightening of credit to the borrowers on long term loans are expected to continue into 2009. It takes a long time to clear the number of home foreclosures off the books. Notice that even though the Fed continues to try and work plans to rescue the financial crisis, the market reacts downward. That is because the fundamentals in the businesses is downward and will continue until the consumer has money available.
I was just told that it could easily slide another 10% but that's it's oversold right now - however, there is still alot of head wind
I'll be honest - I've lost alot of value in my mutual funds - I won't sell as a result though - I almost wish I had taken some advice and went into all bonds - I just don't even log into my account anymore because it is depressing.
I'll be honest - I've lost alot of value in my mutual funds - I won't sell as a result though - I almost wish I had taken some advice and went into all bonds - I just don't even log into my account anymore because it is depressing.
.........and just a matter of time when it will NEVER regain those types of losses.
Unlike what many financial mavens will tell you, the stock market is no guarantee for making money that they imply.
They talk like the market has been around for 10,000 years.........when in reality its been around a very short time.
I saw Jim Cramer on tv last night literally screaming his head off in some msnbc show. Talking about how the housing market will never ever ever recover to the levels it was at before.
NOw i cant put in words how much i hate that little bastard, but if a guy like him has come to realize the truth now and he is done trying to prop up and market and sell it to people, there comes a time when even the hardiest of bulls must concede to the bears.
IT is over folks, only the foolish wishful thinkers are left right now. Pretty much every smart person has sold off and/or hedged their bets with a few defensive plays while others are investing in commodities. (look for gold to hit over 1000 by end of next week..Thats right, i am predicting it)
For months now i have been telling friends DO NOT BUY THE HYPE!!! THE MARKET IS NOT YET NEARLY OVERSOLD!!! GET OUT NOW GET OUT WHILE YOU CAN!!!
NOw i cant put in words how much i hate that little bastard, but if a guy like him has come to realize the truth now and he is done trying to prop up and market and sell it to people, there comes a time when even the hardiest of bulls must concede to the bears.
IT is over folks, only the foolish wishful thinkers are left right now. Pretty much every smart person has sold off and/or hedged their bets with a few defensive plays while others are investing in commodities. (look for gold to hit over 1000 by end of next week..Thats right, i am predicting it)
For months now i have been telling friends DO NOT BUY THE HYPE!!! THE MARKET IS NOT YET NEARLY OVERSOLD!!! GET OUT NOW GET OUT WHILE YOU CAN!!!
