We will give it all up by the end of the week.
Why are people buying today? Because the grand messiah Obama said it is a good time to buy? Please...........
Ask yourself, why are we rallying today? ISM was below expectations and ADP was ugly. The greatest reason to sell here is that financials are not participating in this upward move.
Buy for the pop near S&P 600. We are in no mans land technically.
How many hundreds of billions of dollars are they going to get from taxpayers? That is the question.
I believe GE is hiding a lot of bad assets off balance sheet. The company is probably just as insolvent as Citigroup.
Expect mass rental store closings and layoffs.
http://www.marketwatch.com/news/story/blockbuster-shares-plunge-report-possible/story.aspx?guid=%7B7505BD02%2D9EDD%2D441F%2D964F%2DD42CBD7DDD64%7D&siteid=yhoof
PPT will start the rally and investors will think we are at "the low" and pile in. Yawn....... how many times have we seen it happen over the past year?
We close green today if the PPT gets involved.
Plan was just announced on CNBC.
GM is going to pay bondholders 10 cents on the dollar and the taxpayers/government are going to pay around 40 cents.
How is this not screwing over taxpayers?