Prediction: Friday Is The Day Banking Sector Drops!
I predict that the banking sector today 08-07-09 will take a hit today. Here is why:
-World markets got slaughtered overnight with most world markets taking over 2% hits that include a -500+ drop to Hang Seng Index
-RBS dropped almost 16% in a single day and said bad-debt charges won't improve until 2011 now!
-US unemployment now predicts to hit 9.7% 26 year high
-FNM reported $14.8 billion loss for 2Q and needs money again for the 3rd time
-Most retailers reported huge losses (only lessened by the fact they were not as bad as predictions)