12/17/07
The former Fed Chairman Greenspan warned of possibility "stagflation" and 50-50 chance of US recession commented on the economy over the weekend. Also, this morning the NY empire manufacturing index is slowing down more than expected. All US stock market indexs are following the downward movement which closed at 13167. It is so funny seeing Citigroup downgrade several banks stocks, JPM, BAC, USB ...etc. Citigroup (C) itself is also trading near 52 weeks low. It is definitely that DOW 13000 is next level that will be seen very soon.
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2 comments:
From your previous comment, you suggested that we should trade stock on long term, but I also want to buy the stocks at lowest level, so up to this moment, what sector of the stocks are at the bottom? that i should buy into.
Thanks
Shawn
I suggest to trade short term, not long. I do not see any stocks are bottoming out. If you do not know trade downward, keep cash. Cash is King.
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