And The Bear Roars
The Bear is running rampant. Although unwelcome it is not surprising. What is surprising to me is how many investors and individuals are in denial. I am not one who will take advice from stock message boards but I do visit them quite often to gauge the individual’s sentiment about various aspects of the market in general. And what I am finding amazing at this point in time is the amount of denial to the state of the economy. Many investors are still viewing this as a temporary setback.
Folks The BEAR is on the prowl. She is roaring and showing her teeth. To think that this economy is going to be fixed by some divine intervention (or government for that matter) is a little naive at this point I think.
Today General Motors (NYSE- GM) closed the trading session at $2.92. That is the lowest close for GM shares in 43 years. Here is an excerpt from a press release:
GM announced additional steps to increase liquidity, but said that, even with those moves, liquidity would be at or near the minimum needed to run its business through the rest of 2008 and would fall significantly short of the minimum needed during the first two quarters of next year.
Ford Motor (NYSE - F) closed the trading session at $1.83 per share.
Gasoline and oil continue to fall yet this showing no signs of providing any market support.
Government Bailouts right and left from the Auto Industry to the Financials isn’t helping.
Folks most of us have not see this BEAR. This is THE BEAR. The one we heard our parents talk about. This is THE BEAR of 1929 and she is only starting to roar. We are in for a very long ride.
2oversold.com is a blog for the individual consumer and private investor. We are not experts in the markets nor do we make any recommendations of any company. The companies we blog about are discussed for the purpose of this blog only and this should not be considered as investment advice.
Comments are welcome on this 2oversold.com opinion. Registration is not required but you will need one (1) approved comment before your postings will appear instantly without moderation.
[...] The DOW is now under the 8000. Readers of this blog know we sort of suspected this was coming and said so yesterday when we blogged Last Hour Rebound and in our Nov 11th Blog, And The Bear Roars. [...]
[...] Now you tell me just how strong the markets should be? Should we really be trading at DOW 8800? The markets are in some serious trouble and we can not talk them up for very long at a time nor can we use bailouts to provide support. Read the 2oversold.com blog And The Bear Roars [...]
[...] of living. And as we have blogged here many times I think the economy is in much worse shape (see : And The Bear Roars ) than is being reflected in the numbers to date and as we continue into 2009 this will become more [...]
[...] blog. 2oversold.com has blogged this is what would have to happen before all this is over (Read - And The Bear Roars From Nov 11th Blog and Tulips, Internet, And Trouble for an idea of our opinion about where the market is [...]