In the end it always comes down to politics. That's why so many companies have been able to rob and plunder their way through America under Bush. Haliburton did just that before running for foreign shores and accounts.
Buy and hold, buy and hope, buy and get raped. I have tried these strategies and all they did was make me poor. Trading is the only way to go in the markets. Everything is suspect and everything is a pump and dump as far as I am concerned.
Willingness to make douch decisions! They had decades to make tough decisions, have they ever made any good decisions...
Where do they find these people.
Things are looking good here. Nice upward channel that held so far. Dow 8900 by close?
Maybe 8888 since it likes weird numbers like that.
EDIT: now comes the dump
I have come to the same conclusion except how would the money get released off the balance sheet if they are just using it for more writedowns in the future? I am assuming that they will use it that way.
Agreed. I would go further to say that it was more of technical rally. S&P tested its low and held so the bulls did some bottom feeding and blew some shorts out of the water at the same time. Nothing more nothing less. Tomorrow will probably see a pop then back to sell sell sell.
The useless dolts have to justify their salaries somehow. When everyone and their grandmother knows that GE's credit rating is crap, only then will they cut their rating....after any remaining longs have been crushed.
So we should live in a double standard society? Those with money and power deserve free money when they can't afford their mistakes and those with little money and no power deserve to be wiped out when they can't afford their mistakes?