Comments on: Why Financial Earnings Leaders Means Bad Times Ahead

By: Robert Nebbia

Robert Nebbia — Sat, 01 Aug 2009 23:02:41 +0000

I agree with Ryan in fact the Nasdaq looks like it might be rolling over.It lost 13 points in 10 minutes Friday at the close. I find it amazing the influence CNBC has, It was only two and a half weeks ago weeks they were having all the so-called experts say ” we may have to test the bottom”. Now we have all the same experts shoutings 1000 on the S&P.Ok then what? The whole thing runs by emotion and CNBC promotes fear. This happened back on May 7th, Bac hit 15.07 and then it tanked when reality sets in. Oh and finally did anyone really listen to Ken
Lewis when he said ” the second half of the year will be much tougher” ( that means less profits, that means there running out of units to sell,)that also means the stock is overbought.

By: sharonsj

sharonsj — Thu, 30 Jul 2009 15:43:52 +0000

Moving money (and toxic securities) around merely for the fee is something the investment banks have been doing for a while, to the detriment of the real economy. But Congress, instead of trying to solve the genuine problems, merely threw more taxpayer money at the people who caused it all to happen. These are the same players who should have gone to jail for fraud. In the meantime, Main Street continues a downward spiral and Wall Street continues to party. As some point this will have to explode (or implode) because the government and the people won’t have any money left unless the Fed tries to print its way out, and that’s no solution either. We are screwed no matter what happens.