• If you are having problems logging in please use the Contact Us in the lower right hand corner of the forum page for assistance.

Zer0's Downfall Continues............

Mike

Well-known member
Wall Street tumbles anew in early trading
AP ^ | March 2, 2009 | TIM PARADIS


NEW YORK – The Dow Jones industrial average plunged below 7,000 Monday for the first time in more than 11 years as investors grew pessimistic about the health of banks, and in turn the economy.

The Dow hadn't traded below 7,000 since Oct. 28, 1997, and last closed below that mark on May 1 of that year. The credit crisis and recession have now slashed half the average's value since it hit a record high over 14,000 in October 2007.
...

"As bad as things are, they can still get worse, and get a lot worse," said Bill Strazzullo, chief market strategist for Bell Curve Trading. Strazzullo said he believes there's a significant chance the S&P 500 and the Dow will fall back to their 1995 levels of 500 and 5,000, respectively.

_____________________________________________________

Zer0's course of action is definitely in question as traders are fearful of his fiasco's to date............. :lol: :lol: :lol: :lol: :lol:
 

Mike

Well-known member
Using the word "Crisis" 24-26 times in a short speech is sure to produce confidence!!!!!!!

This guy, nor his advisors, has a clue...........

WE TOLD YOU SO!!!!!!!!!!! :lol: :lol: :lol: :lol:

And remember........."Your energy costs are too low"!!!!!!!!! :lol: :lol:
 

hypocritexposer

Well-known member
I find it kind of ironic that he called this as bad as the depression, and then forecasts the growth he and his economists are predicting the next couple of years!

You can't have it both ways, that I'm sure of.

A little crisis, mix in some Hope, and you've got yourself further towards your agenda!
 

Mike

Well-known member
Mr. Market, Meet Mr. Obama
Barrons ^ | March 2, 2009 | Kopin Tan


WALL STREET HAS BEEN LOOKING TO President Obama for change, only to balk when change is meted out.

The mounting pace of reform from Washington -- an ambitious $3.6 trillion budget, for instance, and a blueprint for propping up Citigroup (ticker: C) -- failed to slow the pace at which the stock market hit one desultory record after another. Stocks suffered their worst February since 1933. The 43% decline over the past six months was the worst such stretch since 1932.

The measured selling sent stocks to a 12-year low, close to levels from which previous bull markets had sprung. Friday's decline was the ninth loss in 10 days, surely improving the odds of at least a momentary bounce off this morose spell. But the orderly wilt -- and the relative absence of panic -- reduces the likelihood of a sustained rally.

"Mega bear markets typically do not end before they retrace substantially more than 100% of the bull market that precede it," warns Andrew Burkly, Brown Brothers Harriman's technical analyst. And at 735, the S&P 500 is just slightly below the 768 starting line from which the last bull market took off in October 2002.

The Dow Jones Industrial Average ended the week down 303, or 4.1%, to 7063, its lowest since May 1997. The S&P 500 absorbed its seventh loss in eight weeks and declined 35, or 4.5%, to 735. It is 53% off its 2007 peak. The Nasdaq Composite Index fell 63, or 4.4%, to 1378, while the Russell 2000 slipped 22, or 5.3%, to 389.
 
Top