Sworn: I would have to disagree with that statement.
How often is the United States hit with a major terroristic attack? Before 9/11, when was the last attack?
I used to think the same as you did. I voted for Bush the first time because I was a republican, but the second time because I was an American. He was protecting us, or so I thought. Then I really sat down and thought about it: Did he really protect us? Or was it law of averages saying that the US only gets hit about every 10-15 years?
Billhart's hosed economy comment definately rings true. Regardless if Osama every is able to come out of a cave or attack the US again, he has won. Have you flown recently? Security is rediculously over done. The average plane ride in the US is right around 2 hours. That is also the average amount of time to get through security at any large airport. Our borders still have holes big enough to drive trucks through (quite literally, mind you. I used to live on the border and people would drive across the river in some places during low tide) and our ports of entry are about as safe as the local slum.
It is all about perception. If you feel safe, then you are safe. If you are told that you are safer, then you feel safer. If you are told that the economy is crashing all around you, then you will horde money, regardless of if you have been impacted by a single penny or not. If you don't know that the guy who just made your hamburger just took a giant dump and didn't wash his hands, you will think that it was the best tasting burger you have ever eaten. It is all about perception.
Well we will open down tuesday a.m. retest the 1490 level early in a.m. as euro bank crashed today.. If we hold buy if not we retset 1450 in nasdaq.. right now we are at a cross roads this week , nothing but earnings this week and all will be bad aapl,goog,msft,ibm will be out .. im bearish this week untill we get clear cut details on tarp I say we trent flat to down.. this week. but I have been wrong before not often but it happens.
WAR MY STEELERS WINNING SUPERBOWL 43 !! TICKETS ARE 1850 IN TAMPA SO I NEED TO MAKE SOME MONEY DAMM IT !! LOL
Last edited by billhart22; 01-20-2009 at 12:20 AM. Reason: I have really crappy grammer
I still don't think the earnings reports will crash us on Tuesday or Wednesday. Too much press about Obama and how he is going to change the world.
Thursday, people will realize that Obama's change isn't going to be instant, and we will go bloody Friday.
i say we rally all week, and you know im never wrong haha
My portfolio is a vampire's dream this morning....lots of blood!
1463 and 8100 challenged all morning.
There is just too much bad financial news this morning....
Chrysler giving 35% of it's company to Fiat for no cash. Chrysler figures that Fiat can fill their 4X4 market, but as we all know, FIAT makes junk. You have to own two of them so you can repair one of them, kind of like the old Jaguars. Chrysler gives away 35% of the farm after we just gave them 4 billion dollars. If the inauguration wasn't on today, the TV dweebs would be screaming panic.
Banks in U.K. and Asia down
Report cards coming out this week.
I don't think the speech and fairy dust coming out later this morning are going to make a hell of a lot of difference. We have some serious economic woes happening today. I predict a broad-based speech with little specifics.
It will be at least until next week until anything can happen, if at all.
We are just going a little bit down and sideways, as predicted.
Those are my thoughts for this morning......
This was the lowest day on the DOW since November 20th.
The Dow closed at 7948 and fell a whopping 332.77 points with a percentage loss of 4.02%
The Nasdaq closed at 1440 -88.47 5.78%
This is day one for Obama. After the speech, pomp and circumstance, the market kept falling. It pretty much held until after his speech.
I don't know about you guys, but I got beat up today. I predicted blood and it was blood that I got, but even bloodier!
SIRI was at .11 half the day, after Obama spoke, then it lost ground to .10 and chump change. He really didn't inspire the market.
Like I predicted, the head and shoulders in the chart prevailed on the Nasdaq. His speech didn't hold the Nasdaq or the DOW up.
I was watching during his speech and people kept on trading and the shorters took over, they got a lot of action on the way down. They had a good day and I am sure that they are surprised. They were worrying about shorting during the rally rise.
So, day 1 - COMPLETE FAILURE for a rally
I will make another prediction later today. Feel free to make yours also! The more the better.