Expect a bad day Monday

DavidS

Anti-Tea Party Member
Sep 7, 2008
9,811
770
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New York, NY
I'm reading a lot of negative reaction on the stock forums about the government's role in telling a CEO to step down. I think this is a good sample of what a lot of people will be seeing on Monday. We could be around 7400 by the time the day ends.
 
I'm reading a lot of negative reaction on the stock forums about the government's role in telling a CEO to step down. I think this is a good sample of what a lot of people will be seeing on Monday. We could be around 7400 by the time the day ends.

Uh, I just read something. Expect a REALLY bad day now. I've got breaking news.
 
I'm reading a lot of negative reaction on the stock forums about the government's role in telling a CEO to step down. I think this is a good sample of what a lot of people will be seeing on Monday. We could be around 7400 by the time the day ends.

Uh, I just read something. Expect a REALLY bad day now. I've got breaking news.

link us up.....
 
nevermind i see what you posted. yeah tomorrow is gonna be rough, but honestly did anyone not see this coming?
 
The market is clueless.

Oh it isn't?

If the market understood what was going on, then why are so many marketeers crying over spilt milk?
 
yep the market moved too fast and now is undergoing what i consider a correction. plus i think starting next week or the next first quarter numbers start pouring in and they want be pretty.
 
I'm reading a lot of negative reaction on the stock forums about the government's role in telling a CEO to step down. I think this is a good sample of what a lot of people will be seeing on Monday. We could be around 7400 by the time the day ends.

wow, good call so far, 7450...

can you share the links you are getting this info from? i would love to read what you are reading.
 
Hi DavidS:

I'm reading a lot of negative reaction on the stock forums about the government's role in telling a CEO to step down. I think this is a good sample of what a lot of people will be seeing on Monday. We could be around 7400 by the time the day ends.

The stock market goes up when too many people believe the Obama LIES and comes back down when reality sets in. Period. We still have too much Outsourcing of JOBS and too many Foreign Nationals (legal and illegal) displacing US workers from JOBS. We still have 10,000 foreclosures (and rising) every single day and another 600,000 people will be unemployed by this time next month.

The U.S. Economy is IMPLODING through a carefully orchestrated PLAN that works like musical chairs where somebody is always left standing. By September or October of this year the stock market will collapse under the weight of a deteriorating consumer base, falling house prices, failed retailers slashing prices to undercut the competition, failing banks with worthless mortgage-backed security portfolios and failing insurance companies holding the bad paper bag on failed insurance polices to boot.

You guys are moving around chairs on the Titanic that has yet to begin the nosedive to the bottom of the ocean . . .

GL,

Terral
 
I'm reading a lot of negative reaction on the stock forums about the government's role in telling a CEO to step down. I think this is a good sample of what a lot of people will be seeing on Monday. We could be around 7400 by the time the day ends.

Good call David.

Wagoner leaving GM with compensation worth $23M
CEO Wagoner leaving General Motors with no severance pay, but pension is worth more than $22M

The terms of General Motors Corp.'s government loans prevent it from giving executives severance pay, but they don't affect earned pensions.

As of Dec. 31, Wagoner's accumulated pension was valued at $22.1 million, but he'll receive that in payments over the rest of his life, so the actual amount he collects might be different.

According to GM's latest annual report, Wagoner also will receive about $367,000 in stock awards and about $535,000 in deferred compensation.

Wagoner announced his resignation Monday. Obama administration officials asked him to step aside as part of the government's plan to assist the struggling automaker.

Wagoner leaving GM with compensation worth $23M - Yahoo! Finance

WASHINGTON (AP) -- President Barack Obama declared Monday that General Motors and Chrysler restructuring plans were too little too late, leaving him no choice but to push out GM's chief executive and set a one-month deadline for Chrysler to merge with Italy's Fiat SpA.

Obama, who was stepping into the American industrial sector with a force not seen in generations, also raised the possibility of a controlled bankruptcy to help either or both companies to "restructure quickly and emerge stronger" -- uttering the term that industry and union officials have warned repeatedly could lead to the collapse of an entire domestic industry.

But Obama sought to soften the blow.

"What I am not talking about is a process where a company is broken up, sold off, and no longer exists," Obama said. "And what I am not talking about is having a company stuck in court for years, unable to get out."

As the U.S. economic recession deepened and the auto giants sought more taxpayer money, the president was performing radical surgery.

Underscoring the extent to which the government is now dictating terms to two of the country's iconic corporations -- forcing the departure of Rick Wagoner as CEO of General Motors, Obama bluntly warned the administration may pull the plug on either or both companies.

Dating to his days as a presidential candidate, Obama had been openly critical of the U.S. auto industry, voicing deep dissatisfaction with the way it has done business.

Declaring he would no longer "excuse poor decisions" as the companies tried to survive on "an unending flow of tax dollars," Obama said, "These companies and this industry must ultimately stand on their own, not as wards of the state."
White House moves dramatically on auto industry - Yahoo! Finance
 
I'm reading a lot of negative reaction on the stock forums about the government's role in telling a CEO to step down. I think this is a good sample of what a lot of people will be seeing on Monday. We could be around 7400 by the time the day ends.

Good call David.

Wagoner leaving GM with compensation worth $23M
CEO Wagoner leaving General Motors with no severance pay, but pension is worth more than $22M

The terms of General Motors Corp.'s government loans prevent it from giving executives severance pay, but they don't affect earned pensions.

As of Dec. 31, Wagoner's accumulated pension was valued at $22.1 million, but he'll receive that in payments over the rest of his life, so the actual amount he collects might be different.

According to GM's latest annual report, Wagoner also will receive about $367,000 in stock awards and about $535,000 in deferred compensation.

Wagoner announced his resignation Monday. Obama administration officials asked him to step aside as part of the government's plan to assist the struggling automaker.

Wagoner leaving GM with compensation worth $23M - Yahoo! Finance

WASHINGTON (AP) -- President Barack Obama declared Monday that General Motors and Chrysler restructuring plans were too little too late, leaving him no choice but to push out GM's chief executive and set a one-month deadline for Chrysler to merge with Italy's Fiat SpA.

Obama, who was stepping into the American industrial sector with a force not seen in generations, also raised the possibility of a controlled bankruptcy to help either or both companies to "restructure quickly and emerge stronger" -- uttering the term that industry and union officials have warned repeatedly could lead to the collapse of an entire domestic industry.

But Obama sought to soften the blow.

"What I am not talking about is a process where a company is broken up, sold off, and no longer exists," Obama said. "And what I am not talking about is having a company stuck in court for years, unable to get out."

As the U.S. economic recession deepened and the auto giants sought more taxpayer money, the president was performing radical surgery.

Underscoring the extent to which the government is now dictating terms to two of the country's iconic corporations -- forcing the departure of Rick Wagoner as CEO of General Motors, Obama bluntly warned the administration may pull the plug on either or both companies.

Dating to his days as a presidential candidate, Obama had been openly critical of the U.S. auto industry, voicing deep dissatisfaction with the way it has done business.

Declaring he would no longer "excuse poor decisions" as the companies tried to survive on "an unending flow of tax dollars," Obama said, "These companies and this industry must ultimately stand on their own, not as wards of the state."
White House moves dramatically on auto industry - Yahoo! Finance


What's a 'controlled bankruptcy'? Is that different from Chap. 11?
 
I see a buying opportunity today. A lot of securities took a beating today and it looks oversold to me.

I've been playing with micro-caps lately, myself. Smart picks are earning me 10% or more. I just missed out on a 100% pick because I was stuck in a not so liquid stock, but it's ok. That stock itself has already earned me a nice return.
 

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