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
LEH Throws in the Towel with Chapter 11. Bank of America Saves Merril with a $50b Price Tag. Oh The Chaos!!
Sep 15, 2008 Stock Market News
Man oh man the good news in the financial industry just keeps getting better and better. With FNM and FRE eating turds for breakfast it looks like Lehman Brothers is going to join them Monday morning for a nice feast at the best turd griddle place on Wall Street. Barclays decided to pull out of the bid for Lehmans investment management division leaving LEH caught in a well with no rescue ropes to pull them out as they stated they intend to file for Bankruptcy. Still now, they are looking for buyers but the line up of canidates has grown thin so its likely that Lehman will succumb to financial devil’s call.
Bank of America saved the day for Merril Lynch for the price tag of $50b which is going to make them as a team a huge rival to the big timer Citi bank.
Monday….. Oh Monday… Its gonna suck for anyone who was long in LEH from Friday as you can imagine how this stock is going to react in the morning especially pre-market we’re going to see a huge gap down. Currently Dow futures are trading down 270 which have actually rebounded somewhat off of there lows but more than likely we probably won’t be seeing much green in the financial industry tomorrow on our watch lists. Oh how i love trading this market 
Cya guys Monday Morning !
Tags: BAC, Bank Of America, LEH, Lehman
