At 3:30 pm today President-elect Barack Hussein Obama is going to speak today in regards to the economy. Unfortunately it will take place during the last thirty minutes of the markets being open. At the moment (11:15am), the markets are doing good, all of the three indecies are presently in the green, let’s just hope they are able to hold on to those gains.
.
Considering all of the bad news that came out in the last two days, I’m pretty surprised that there is any gains today. As posted earlier today I stated that Ford Motor Co. reported some major loses. In any moment GM will release a statement of their own and the stock is currently on hold from trading.
.
Sit on your hands or turn off your computer, do what you need to do to hold off on buying anything at the time. From the way it looks, we are being set up for a big sell off some time today.
.
While typing this post the earnings report from GM was released and it was worse than what the street expected to see. GM’s cash burn rate is $6.9 billion. They lost over $7 per share. They stock is still on hold from trading and I guess when it starts the stock will go way into the basement from this report.

Related posts

• Where Are The Investigations? (0)
• What Will Happen To The Investor Class? (1)
• Treasury Department, Federal Reserve And The SEC (0)
• The Stimulus Plan Doesn’t Stimulate Anything (0)
• The Obama Effect In The Stock Market (0)