Top retail analyst Dana Telsey isn't putting lipstick on this pig ITS A RED BLACK FRIDAY!
those strong economic fundamentals ......hahahahahahhahahahhahahahahahhahhahahhahah
Stocks Have Best 5 Days in75 Years
Major U.S. Indexes
Last Change % Change 1 Week % Change YTD % Change
Dow 8840.33 1.30% 9.87% -5.20% -33.36%
NASDAQ 1535.57 0.23% 10.92% -10.77% -42.10%
S&P 500 896.22 0.96% 12.02% -7.49% -38.96%
Russell 2000 473.12 0.91% 16.38% -11.98% -38.24%
CBOE VIX 55.83 1.66% -23.17% -6.78% 148.13%
FTSE CNBC Global 300 3512.08 0.62% 12.00% -7.00% -43.15%
NO LIPSTICK ON THIS PIG
The financial crisis is about to get a whole lot uglier, and there’s no stopping it.
The reasons are quite clear:
Treasury secretary Paulson has reneged on using the $700 billion in rescue funds to buy the banks’ toxic assets
GM is on the verge of bankruptcy
AIG is trying to use its bailout money to pay fat bonuses to executives
Profit margins across all industries are shrinking
ALL as the global credit squeeze continues to cause global trade to dry up
The result has not only continued to crush the U.S. financial system but also has led to the demise of many hallowed financial institutions—blindsiding U.S. investors .
And that’s not even the half of it.
As you can see...with 96% of companies reported for Q3 the Q3 earnings were LOWER that Q2 and Q1!
YES...earnings CONTINUE TO DECELERATE!
$16.37 operating earnings for Q3! (actual will be $16 to $16.15 after the final 4% is included within 2 weeks!).
So for Q4 you can rightfully expect somewhere in the $14 to $15 range!
So FULL YEAR 2008 operating earnings will be around $63 to $64 per share! At the beginning of the year analysts predicted over $100 per share!
And currently they have 2009 estimates around $90 per share!
They will be closer to $48 to $54!
FOLKS! WAKE UP!
Put a REASONABLE PE on that and you get $600 on the S&P 500!
We are at 900 TODAY!
2009 offers AT LEAST 33% DOWNSIDE FROM HERE!
http://www.kitco.com/ind/Turk/turk_oct27...
(scroll down slightly)
Always extremely accurate. Look at it closely.
The ratio will go to under 2. Currently, the Gold price per ounce to Dow ratio is about 10! Dow to 5K and gold to 5K? Dow to 3K and gold to 3K? Whatever the ratio is, the Dow is going much much lower from here.
Nothing but bad news,Trump can't Pay Bills,,,,, Now that the weekend is almost over ,the black friday numbers are tepid at best , unemployment numbers going higher and higher , now Trump makes the headlines and will miss a $53M paymrnt due tomorrow , Citbank selling its Japanese subsidys and laying off even more employees .
This all sucks , how can anybody be buying stocks right now ?
Any brave soul have a good argument why it's safe to buy ?
everything broken...oh i forgot those republicans say strong economic fundamentals .
US Recession Began in December 2007, National Bureau of Economic Research Says (story developing)
It's Official: US Tumbled Into Recession a Year Ago
MAYDAY MAYDAY MAYDAY MAYDAYGW DOES NOT CARE