Check out the WORLD MARKETS for today, their first business day of the week:
By Daniel at 25 January, 2010, 10:01 am
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85 out of 88 markets down big time again for the fourth day in a row. Are we following them or leading them ? Ladies and Gentlemen please buckle your seat belts for this week !!!
Sell, sell, sell. The only thing keeping the market from going down a lot faster is that the US congress put short sale curbs in affect after the 2009 Crash ! I am not saying we would have the same type of crash just that the market more than likely would have gone down more than 2 % per day if it not for the artificial curbs established to interfere with market activities.
The home report coming out at 10 AM Monday is a dooms day report, down big time ! Stocks will fall fast until curbs put in a timeout and bonds yields will go down as investors flock to US bonds for safety. Add in the Bernake saga along with the President State of the Union speech while the FOMC meeting in going on during the week and - you get a recipe for disaster. Way TOO much uncertainty.
Tuesday is the Case-Schiller report, another bad omen for the market with housing prices falling again in most markets with millions of foreclosures looming.
Wednesday new home sale report will show less than expected sales.
Thursday is the jobless numbers report; this is the nail in the coffin. If the State of the Union speech is taken by the market to less ineffective and/or interfering with free enterprise - watch out !
Sell, sell, sell !!! You can expect at least another 5 % loss on the DOW for a mind popping 10 % fall in less than 7 days !
- hump368
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