Dow 12000 support?

6/18/08

This morning, Fedex has revised again this year earning as well as year 2009 earning estimate due to sky-high fuel cost. In addition, MS the second biggest investments bank in the world has posted earning showed each of their division profit down significantly. Fifth third bank, said need fresh capital and cut large percentage of its stock dividend.Royal bank of Scotland, one of the largest bank in the world said there might be a great chance the whole world stock markets are getting to crash due to lasting high inflationary pressure all around the globe. All of these negative news that pull Dow slightly close above 12000 mark(few hundred points away from 1/08 and 3/08 lows of the year). Folks, I have said months ago, do not trust the fake rally bounce from 3/08. Now, I say this here, LEH would be next victim like BSC within months or lucky if get merge with other world big banks. WM, NCC would probably both go to FDIC failure bank list soon. The stock markets may probably going to dive after the next week FOMC meeting finish. By the time people are foolish about how this could occur, DOW would be around 11000. I make this statement with tons of fundamental data,facts as well as technical analysis reasoning behind. All Fed have done would prove it will not be working as what people thought, as well as the $600 extra bucks each person from Treasury(by the time they got it, they have already spend to their gasoline). Folks, fasten your seatbelt because market is in perfect pose to dive before Bejing Olympics get start on 8/8/2008. Good luck to everyone who is still believe what our Bush adminstration, Fed, Treasury,...etc.