Why,You,Might,Want,Have,Some,C finance, share, loan Why You Might Want to Have Some Cash Ready
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Can it get worse out in the market than it is now? You bet -- but, at the same time, the market chaos is extremely high now and stocks are at their lowest levels since 1995. We sense that a near-term bottom may be upon us, as the markets are extremely oversold, and we do feel there will be some buying emerging, as so much bad news is already discounted into the market. The lack of leadership and continued concerns about the global economies have been driving sellers to the exits. The DOW and S&P 500 made fresh lows last Thursday in what was a terrible week for stocks. Investor sentiment remains extremely bearish in addition to market breadth. The markets are extremely oversold, but so far we have seen minimal buying support.As I sit here looking at the screens, the flash of red is beginning to be such a pain. The selling capitulation is at a high point. Investors appear to be unloading positions to play it very safe, but, at the same time, you do not want to miss out on a potential bounce to make some profits. I feel the situation at General Electric Company (NYSE/GE) is driving investors to the exits, as the stock has long been viewed as a bellwether on the U.S. economy; so, with the slide, it drives up more concerns. The lack of optimism in the distressed banking sector is also a critical issue. Citigroup Inc. (NYSE/C), which used to be one of the most powerful companies in the world in finance, has been slaughtered, and it is now only a shadow of its former glory. The stock broke below a buck last Thursday and, in fact, is now cheaper than most of the bank's service charges. There is a fear that the bank could collapse and go the way of Bears Stern in 2008. Yet, I sense that, given all of the funds invested in Citigroup by the government, it may continue to receive help. Now, moving away from banking, there are many other sectors in turmoil, including retail and auto. The auditors of General Motors Corporation (NYSE/GM) have raised some concerns on whether the money-losing automaker could continue as an ongoing concern. Just as in the case of the banks, the auto sector is clinically dead and is simply on life-support, infused with government funding. The government will need to pump billions more into some of the automakers to extend their life, but there is no guarantee it will be enough to save the industry.In the jobs market, the non-farm payrolls report showed the loss of 651,000 jobs in February, slightly worse than expected. The unemployment rate surged to 8.1%, its highest point since the 1983 recession and worse than the 7.9% estimated. Now, on one hand the jobs data is terrible. On the other hand, it was largely discounted into the markets. Keep in mind that, following the 1983 recession, the markets and the economy began to improve. Maybe it will also be the case here, but the situation is far worse now, as the crisis has a global reach. Whatever the case, the current chaos is at a high point, so we could see some buying at this time when no one wants to. Have some cash ready. Profit Confidential---http://www.profitconfidential.com/LOMBARDI PUBLISHING CORPORATIONNews, Analysis, and Information Services Since 1986.One Million Customers in 141 Countries.Lombardi Publishing CorporationFinancial Publications Division350 Fifth Avenue, Suite 3304New York, NY 10118-3304---Copyright 2008; Lombardi Publishing Corporation. All rights reserved. No part of this e-newsletter may be used or reproduced in any manner or means, including print, electronic, mechanical, or by any information storage and retrieval system whatsoever, without written permission from the copyright holder. Article Tags: Have Some Cash, Some Cash Ready, Have Some, Some Cash, Cash Ready
Why,You,Might,Want,Have,Some,C