Stock Market Analysis – 12-11-2008
The trendline holds for now. The auto bailout was encountering resistance in the Senate and has now officially failed. I can’t say I’m sorry except for the fact that they’re threatening to give TARP money to the automakers now instead, which would be a big bailout with even less restrictions. Hopefully that won’t happen, but of course stupider things have been done before.
On a different note, I always find it amusing when some company tries to blatantly cash in on the misfortune of others. In this case, TokBox was parking their free taco truck outside of Yahoo (YHOO) to try to lure a few of the 1500 newly laid off Yahoos to their company. The point though, is that while some companies are doing poorly, others are still doing well and looking to hire. This carries over to stocks, where some are floundering and others are flourishing. Look for those that are flourishing now and get ready to buy them when the money starts flowing back into the market. And no, I’m not recommending TokBox, who isn’t even a public company, so don’t bother looking them up if you haven’t heard of them before.
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