Quote:
Originally Posted by Ferd
as much as this might very well go further south, dont you think the short ship has already sailed? a lot of these stock are already down 50% or better.
if you have money and it isnt in the market right now, it might be better to sit around and wait till it shakes out some.
it wont be long before bottom fishing pays pretty big.
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Well in a typical recession the stock market shrinks as much as 30% before rebounding and we are about at that point. Then it climbs higher than ever.
But we have never been in this economy before. Housing is the worst that it ever has been. The affect is just now starting to hit local and regional banks. There are some 600 banks that have assets > 650 millioin that are in danger of failing. There will no doubt be a some major bank failurs before this is over. So financial stock will probably sink a lot farther. And there is no doubt that a few MORE of the major builders will go bankrupt.
The housing issue coupled with oil rising and devaluation of the dollar has created the "perfect storm."
One of my clients today told me he had put back for a "rainey day" but this is a hurricane! He has been in business over 20 years. This may be his last.
Point being we might be at the bottom....if God has mercy. But I don't hear calls for repentance...churches are not praying. Not even people who are supposed to be able to discern the times and seasons. Just look at the AFF...we have thousands of hits and comments about LS and magic hair. Many threads about, "can a person do...and still be saved." Not a lot about the state of our wicked nation and the flashpoints of Judgement that we are walking into headlong!!
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