Funny how things have changed in one year.
By Daniel at 17 March, 2009, 12:57 pm
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There were a lot bulls here who would’ve backed you up on your prediction Todd for a 20% rally. You must not be nuts and thinking a new bull has started since you have one account that’s 100% cash. Now days - there are bears everywhere and rightfully so. Companies have collapsed, a lot of others are near that, and the government has gone on a No-holds-bar spending spree that many think will sink the US’s future. The government needs to take a que from the average American that has decided to start saving/paying debt. Plus the government needs to side with The People and deliver justice to the crooks that put us in this mess while profiting at a ridiculous level.
Worse yet - even if companies like GM and Citi survive and climb outa penny stock status ($5 and below) they’re still piles of Crapp (not the workers). These companies aren’t going to be able to pay the government (taxpayer) back for Years. The taxpayer, printing press, and China/Japan for as long as they want - are responsible for them going forward.
Rallies will happen. I think a somewhat significant “Bear” rally is coming. There are some big bears like traders who have covered their shorts. The markets won’t rally next week but possibly in the weeks and months ahead - just not to Dow 10K+.
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