The financial turmoil keeps marching against all this pathetic calls that the situation is stabilized. The charts look still vulnerable for XBD and BKX and single stocks have to go down quite a bit still. One of them is Citi and MS but for BAC whi,ch has this week a weekly 13 count but the daily has still some space for lower prices.. As soon as we have the overall bottom in a few weeks for this half of the year financials may be on the upside bunch again but that is after all just another sucker rally. The market is to current earnings steeply overpriced and needs to drop to half of current levels just to catch up with the current situation. The government keeps building bubbles by creating hopes it can nor deliver - like creating 4 mil jobs. Well america can reach full employment the communist way but thats not the real aim I assume. The bottom line is markets have to drop around 10-15% from here at least to make the bottom for this quarter.
Friday, January 16, 2009
Financials and market outlook
The financial turmoil keeps marching against all this pathetic calls that the situation is stabilized. The charts look still vulnerable for XBD and BKX and single stocks have to go down quite a bit still. One of them is Citi and MS but for BAC whi,ch has this week a weekly 13 count but the daily has still some space for lower prices.. As soon as we have the overall bottom in a few weeks for this half of the year financials may be on the upside bunch again but that is after all just another sucker rally. The market is to current earnings steeply overpriced and needs to drop to half of current levels just to catch up with the current situation. The government keeps building bubbles by creating hopes it can nor deliver - like creating 4 mil jobs. Well america can reach full employment the communist way but thats not the real aim I assume. The bottom line is markets have to drop around 10-15% from here at least to make the bottom for this quarter.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment