My opinion about President Obama's Adminstration Policy

2/28/09

From the date 1/20/09 (our historic first black president Mr. Obama started to serve his term) to very early February, stock market has little stable action. Since then, stock market begun tanking more and more.
President Obama emphasis to make new policy to avert the current crisis. However, each new announcement he makes, stock market is turning against him. It is because his policies are more political concern rather than solve the root of the problem.
Cut in short, now the most important heart of US is our financial system. But most politicans are lawyers who do not know how to do their job, not even have any good idea how to run our government to cope with this economical disater. Moreover, they decline to follow good economists' suggestions. What our government has done so far is exactly the same as how Japanese government did to avert their slump back to 1989.
Now, US government is going to mix with private banking system(wasting money into AIG, C,...). If this action fail, we will lost last hope. Then, it will delaying our rebounce time.

I have no faith about President Obama Admistration policies so far. If worse goes worst, stock market will keep this long down trend to around the end of 2012. Yes, no kidding it is 2012. Of course, there will be few huge bear market bounce(sucker rallies) action in between and those would be consider another great time to short the market. I guess we do not need to wait too long to see that US cannot recover this second half of this year. Good luck to America!!

Can you find your dream car?!

2/27/09

The following post is published by other source:

Unsold cars in the world

Nissan has announced plans to cut its Sunderland workforce by 1,200. Thousands of unsold cars are stored around the factory's test track

Honda is halting production at its Swindon plant in April and May, extending the two-month closure announced before Christmas to four months. Honda and Japanese rival Toyota are both cutting production in Japan and elsewhere. Pictured, Hondas await export at a pier in Tokyo

Earlier this week Jaguar Land Rover said 450 British jobs would go

The open car storage areas in Corby , Northamptonshire, are reaching full capacity

Imported cars stored at Sheerness open storage area awaiting delivery to dealers

Newly imported cars fill the 150-acre site at the Toyota distribution centre in Long Beach , California

The build-up of imported cars at the port of Newark , New Jersey

Stocks of Ford trucks in Detroit , Michigan

New cars jam the dockside in the port of Valencia in Spain

Peugeot cars await shipment to Italian dealers at the port of Civitavecchia

Unsold cars at Avonmouth Docks near Bristol

With many manufacturers on extended Christmas shutdown, the number of cars rolling off production lines in December fell 47.5% to just 53,823

Thousands of new cars are stored on the runway at the disused Upper Heyford airbase near Bicester, Oxfordshire, on December 18, 2008.

Sales of new cars in the UK have slumped to a 12-year-low and production of cars at Honda in Swindon has been halted for a unprecedented four-month period because of the collapse in global sales and represents the longest continuous halt in production at any UK car plant. The announcement comes on a day when the EU's Industry Commissioner Guenter Verheugen warned the outlook for the European car industry was 'brutal' and predicted not all European manufacturers would survive the crisis.

Another worst February performance since 1933

2/27/09

After a horrendous January, stocks presented a like scenario for February.

The S&P's finish was its worst since the 731.54 hit at the close of Dec. 18, 1996, with its percentage decline in February proving to be the second-worst on record following the 18.4% hit that came in 1933.

After the worst January performance in its 113-year history, the Dow industrial marked the index's worst February point decline, and its second-worst percentage drop since 1933, when it lost 15.6%.

The Nasdaq decline proved its worst percentage drop since 2001, when it discarded 22.67% of its value.

With S&P closed below 741-745 area as I mentioned yesterday, remain cautious bearish is very very important. There is no landing zone until 615-645 for S&P from a technical perspective. Watch out down below as we are fall..fall..falling!!!

Citigroup Stock Chart

2/27/09

Citigroup sets record for single day trading volume, beating worldcom. Wow!! 1.86 billions shares exchange. It exhausts about one-fifth to one-sixth of NYSE total volume. Remember I mentioned this piece of clap back to 6/6/08(the last paragraph I mentioned financial stocks were going to single digits or teens) or 11/28/08 post. $1-$3 price range is insight to me. Yes, I did forecast it long time ago!! However, I need to own this gabarage picece of crap at cost of $3.25 coming from my tax $$. Why pay 15% more premium than yesterday closing price??! Government is ripping me and all of you(American taxpayers) off. I need bail out too, Mr. Obama! Can I cash my Citigroup while it can buy me nice dinner with my spouse before it trades like AIG ($0.42 as of today)??

Moving Average guiding down short term trading

2/27/09

Folks, look what C bought to you??!! Now, every American own piece of C stock now but we all pay at $3.25 per share while it closed $1.45. Look how moving average play important tool for your trading arsenal. I will post daily chart and more commentary later on.

Citigroup is control by US government now

2/27/09

Another same bail-out style of AIG makes Citigroup (C) now becoming American Bank. It is owned by Washington now as of today. However, the conversion rate is way rip off to taxpayers. Again, those politicans and wealthy people are taking away more of taxpayer money. F?#% them all!! I have no confidence on current New adminstration, New government, and New president!! We will see if the recuse action on Bank work or not. Our government admits and creates one more blackhole to suck all of us. RIP to Citigroup stockholders, C is going to trading below $1 mark soon.
Again, good luck to whoever still invest in banks stocks.