^ same. holding tight until then.

 

Not being able to hold the 900 s&p mark doesn't look very promising in the near term.

 

Thats because CMI isnt doing that bad. Theyre cutting jobs just to keep pace just like alot of other companies are doing. Not everyone is in the tank...but its a great excuse to cut some dead weight and extra costs.

Disclosure: I work for CMI indirectly...IE through a contracting agency.

 

As long as the government doesn't step in and do something unbelievably idiotic like this carbon limiting/'green' garbage when the economy is bleeding from the throat, the economy will work itself out.

For example, CMI has heavy exposure to steel prices last time I checked. With a strong balance sheet and a solid business model, your decreased revenue is accompanied by lowered costs for your fixed expenses, i.e. labor (higher unemployment), rent (lower property values), inputs (steel cut in 1/2 and 1/2 again) which aids a recovery. Firms that could survive with triple the current commodity prices with heavy exposure will benefit from this decline over the next 2-3 quarters.

 

Wow no bailout. China and Japan markets in the red quite a bit. DJIA index futures down over 300. How bloody will tomorrow be?

 

lol wow... tomorrow is gonna be fun.

 

Don't worry, Bush/Paulson will save the day by utilizing TARP funds.

 

Goldmand Sachs (remember them -- the guys that predicted $200/bbl crude?) have lowered their prediction yet again. As of this morning, they are predicting 2009 to average $45/bbl (their last prediction had been $75/bbl) and they are calling for a low during 1st quarter 2009 @ $30/bbl. They further predict refining margins to return to lows seen in 1998. Further predicting 2010 @ $70 (down from $100) and 2011 @ $90 (own from $120).

 

Why is the market rallying even if the asian markets were down 5-6% because of the auto bailout failing? It seems that the market always rallies in the morning despite bad news.

 

i am thinking about the same thing, but that could be what AZDavid said. Bush will save the big 3 no matter what.