Stock Market Analysis – 12-02-2008
December 3, 2008 at 12:30 am · Filed Under Broader Market
The bounce today earned back half of the drop yesterday. I would be surprised if we got all the way up to the trend line on the chart above, and breaking above it may actually sway me from being such a bear. With the automakers upping their bailout request and the true holiday numbers likely to disappoint, there could be a whole lot of bad news coming to fuel a drop. I’m still rooting for some type of major non-government backed restructuring for the automakers, with the best option being bankruptcy so that we have the least impact on the taxpayers and the easiest way to unload a lot of the toxic aspects of the companies. We’ll have to see if the people that matter agree though.
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