Use access key #2 to skip to page content.

alstry (35.35)

Are we nearing a Bottom???

Recs

17

March 12, 2009 – Comments (7)

[PPG] PPG Industries to eliminate 2,500 jobs

PPG to slash 6% of workforce, cut contributions

Household net worth plunges 18% in 2008

U.S. continuing jobless claims up 193,000 to record 5.32M

U.S. Feb. individual income tax receipts at 24-year low

Maybe....but not until jobs stop being slashed, wages stop being cut, household net worth stablalizes, tax receipts stop evaporating, debt gets under control.

Remember if your net worth drops, and income decreases....your debt as a percentage of net worth explodes and your interest coveage ratio implodes....a very lethal combination for anyone concerned.  This is a problem affecting many individuals, businesses, and municipalities across America with increasing severity everyday.....

Until we restructure debt.....this mess only gets worse as more and more lose their jobs, wages get cut, business shuts down, and cities and states eliminate services and reduces staff.

And for those of you that don't believe in Fairies..........

7 Comments – Post Your Own

#1) On March 12, 2009 at 4:25 PM, jimmybroderick (< 20) wrote:

Hey alstry,

I don't think we're at a bottom either, but at a point we'll still be seeing bad news and the market will turn, no?  That, of course, assumes the market does what it has historically and turns prior to the economy.  Thoughts on this?

Thanks

Jim

Report this comment
#2) On March 12, 2009 at 5:14 PM, motleyanimal (89.02) wrote:

The bottom was last week Friday when the S&P hit 666 intraday. Now prepare for the Anti-Christ rally! Tomorrow is Friday the 13th and insolvent banks will rise from the grave. Dead stocks will roam the Earth in search of buyers! And Jason Voorhees will be hunting down the short sellers at Camp Crystal Lake!

Beware the Ides of March!

Mwahahahaha !!!!!!!!!!!!!!!!!!!!!!!!!!!!

Report this comment
#3) On March 12, 2009 at 5:33 PM, TigerPack1 (97.63) wrote:

alstry,

You are one crazy cat!!!  (I mean that in a nice way.)

I love reading your skits and fits.  I am adding you to my very select list of Favorites on CAPS.

I don't necessarily agree with all your market views, but I cannot ignore your 20+ point average per pick, and that you play both ways, thumbs up and down!!!

Report this comment
#4) On March 12, 2009 at 5:40 PM, columbia1 wrote:

Motleyanimal gets my rec!!!!

Report this comment
#5) On March 12, 2009 at 8:54 PM, shffl (< 20) wrote:

alstry,

what do you think is the reason for the rally these past few days? the only thing that came in my mind was confidence brought my citi's announcement and the fact that the market was severely oversold so a short rally like this is possible.

as for the debt that our nation had accumulated, do you think the debts will be defaulted in the end? im no expert in this but what will happen if a nation defaults on a debt? 

Report this comment
#6) On March 12, 2009 at 9:11 PM, Jgrimm4 (59.05) wrote:

It is not like we have not had these problems before. This may be a bit worse in a while but we have been here. As for jobs they are a lagging indicator. Market bottoms have hit very consitantly well before jobless rates peak.

 

but heck who knows what tomorrow brings. I am 60% bottom in and 40% not but I am only 10% sure of that.

Report this comment
#7) On March 12, 2009 at 9:35 PM, leo744 (< 20) wrote:

Alstry,

As I sit here in Tokyo waiting for my next flight, I want to say thank you for making me smile old friend as I read your blogs from half a world away :o)

No way are we near a bottom yet, and to see the half empty hotels over here in Taipai, Bangkok, and Inchon, only solidfies my beliefs that we have allot further to fall before we hit the bottom. Remember what Chuck Yeager once said "it's not the fall the kills you it's the sudden stop at the bottom"

I'm longing the market for a few more days then all in once again for the fall that's surly to come....

Go Wild...

BO

Report this comment

Featured Broker Partners


Advertisement