Dow Futures Getting Slammed Heading into Friday! $BAC to cut 35k Jobs
Dec 12, 2008 Small Cap Stock Picks, Technical Analysis
Futures are getting hammered currently as im right this at 11:17pm thursday night and are down 272 points currently. They were even down around 340 points not too long ago but have rallied somewhat. I wasn’t expecting this rally as of late in the market to hold for very long which is why i shorted DSX and EXM yesterday for some huge gains as well as went short in another stock today thats only veiwable to Black Service members which is our premium service that is up over 120% this year.
Its highly probable that we will see a huge gap down in the morning with some heavy volatility. As well as a you know what load of profits on are short stock pick i called today as we headed into the close. Bank of America announced today that they are cutting 35k jobs which is probably weighing heavily on the market. Been seeing more and more PR’s of job cuts but none near as big as 35k. Theres gonna be an ugly chain reaction from all these job cuts as more and more people are gonna be broke and struggling to get by in this depression. Consumer spending will fall, more people are gonnna go bankrupt, and a shit ton more of forclosures for people who have lost there jobs and can’t make their mortgage payments anymore… What i crappy we’re living in. Can’t wait to get out of this crap hole. But we’ll do our best to not die in the hole and get ourselves out of it!
Technical Analysis:
Tags: BAC, DOW, Technical Analysis
