A bad day for the market.. dow down 344 points down, the longest losing streak since Jan. Unemployment cliams data was out today and it was not a soothing news. .Claims went up by 15000, to 444000 - figure well above the recessionary level of 400000. Ospraie went down draggin the commodities along with it. Not a very good respons for the debt sale of FNM and FRE. drop in a oil price. Rumors that Atticus has to liquidate its assets.. Every thing that has happened has left investors gripped wit he fear that the worst is yet to come and instigated a across-the-board sell off.. Finanaisl, materials, tech, comodities, oil, natgas, gold - every thing was down. It is a bottom yet.. I guess not.. Wall Street has been talking about suprime, consumer spending, credit card debt, student loans, ARS for quite some time now.. but what I feel they would start talking aout it the corporate spending. Till now the long story was the corporate balance sheet strength and the earnings. lately the numbers seem to be quite disappoiting signalling a global slow down.. GLW, WFR signalled weakness in comsuner electronics and Semiconductors.. and there is every reason to believe tis is just the begining of the storm..
However, this is not the end of the world.. In every bear market, there would be some place to hidethe money.. GEOY,
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