Big day on wall st.

by truthbetold Thu Oct 27, 2011 6:08 am

euro deal and likely positive GDP numbers.

by Marathadi-Saamiyaar Thu Oct 27, 2011 9:31 am

truthbetold wrote:euro deal and likely positive GDP numbers.

Yeah rite.... a temporary blip...

50% of the loans to be swallowed by "banks?" they mean the French and German banks? who then would pass on their losses to their exchequer and people? who then will tighten the credit to industry and people? who then would get upset at govt? which then cuts perks and freebees to its people and increase unemployment? This is just a smoke screen blown by the governments of the rich so that the rich can quickly salvage and loot for one last time before the big financial earthquake.

This is the last chance to pull out of the market and park it someplace for a while. People have until tomorrow 4 PM to do just that.

Everytime a financial mismanagement is "resolved" it has risen like a phoenix only worse.

by truthbetold Thu Oct 27, 2011 11:45 pm

Uppiliji,

You seem to have a strong conviction that market is going down in aday or two. If you really believe in your own wisdom, wall st provide you an opportunity to bet on convictions. You could score big as prevailing thinking is that EU deal will help markets for several more days.

Your comments on EU deal may or may not be correct but my post was simply about how wall st. is likely to react. 3% gain isn't bad. Not bad at all.

by Marathadi-Saamiyaar Fri Oct 28, 2011 12:31 am

My convictions are one thing and that only makes me extra cautious. my retirement A/C has some 50% in MMKt and the other 50 are in equities. Of my other mutual funds I pulled everything out of Europe and left the Asian and South American funds in place. of course, my day trading a/c has done well although I have not traded much. I plan to start playing THIS a/c soon. I just need to decide what I need to focus on. I played exclusively on dot.comes in the 90s - except I got attached to the stocks and did not sell when they were high. Now, I know little about energy, manufacturing, and Pharma companies and a lot less about computer stuffs. I need to curb my enthusiasm and focus on just 1 or 2 sectors and start "gambling" again.

all in all, I did not lose when it went down to 10,200 and I gained some when it shot back up again.

But, this is not likely to last too long....as Italy and Spain start coughing. My fear is French banks own a lot of Greek Debt and they will hv to swallow the loss. It means French Exchequer will get hit. Hopefully, it will not be France that starts coughing.

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