Stock Market Analysis – 07-14-2008
More weakness in the banking companies forced another down day. With IndyMac going down people aren’t asking when the credit crunch will be over anymore, they’re asking which bank will collapse next. Just like last time when Bear Stearns crash landed, commodities are going crazy once again. Gold especially is going off the charts. I still don’t think this decline is sustainable, but definitely pick your spots if you’re day or swing trading since the volatility can be very profitable if you manage your risk here.
Stock Market Analysis – 07-11-2008
After a week of huge pain in the financial sector the market is starting to look even weaker than I thought. FNM and FRE led the charge downwards with the IndyMac collapse foreshadowing a likely future for at least a few other banking companies. Anyone that says we aren’t in a recession now must have their head pretty high up in the clouds. With all of the banking excitement I haven’t even been pointing out the new talks between YHOO and MSFT, but once again they’re going nowhere fast. The market seems pretty desperate for good news right now so we’ll have to see if anyone can deliver.