Louise Yamada: Sell stocks; Dow could be headed for 6000
Louise Yamada is one of Wall Street's foremost technical analyst. She is quite bearish and thinks the Dow Jones Industrial Average could go to 6000. Her advice: sell stocks.
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Browsing Tag
equities
Conoco Phillips’ $34 billion writedown makes me bullish
I read about ConocoPhillips taking a massive $34 billion writedown and my first reaction was glee. Why? This type of draconian response demonstrates that the glut of oil we now see will soon be a deficit.
The oil patch is notoriously…
Deutsche Bank: Loan losses will double in 2009
Given the fact that this site is called Credit Writedowns, you would expect me to take a fairly skeptical view about the growing consensus regarding a rapid recovery in 2009. I do, in large part because I understand that banks face many…
Jim Chanos: “It’s a bear market rally”
Jim Chanos, the famous hedge fund guru and short-seller does not think stocks are going to be up for long. He sees the recent rally on the back of promised government stimulus as temporary and expects markets to resume their downward…
Macro Maven: Expect a long difficult recession
Stephanie Pomboy is an economist who specializes in macroeconomic forecasting and their implications for investors and she has some very bad news for those looking for a quick recovery: it's not going to happen. In Barron's latest issue,…
Irish equities suffer largest losses in 215 years
You think things are bad where you were. Well, then, take a look at Ireland. Irish punters are really taking it on the chin. Stocks are down 75% from their peak in February 2007. This makes 2008 the worst year for Irish equities since…
James Montier sees “deep value” in markets – he is bullish
James Montier, a market guru usually known as a permabear has turned bullish of late. In keeping with my bullish sentiments, I have posted his thoughts below according to Bloomberg News.
That said, I should always qualify my…
Jeremy Grantham: In-depth television interview with Consuelo Mack
The renowned money manager Jeremy Grantham has had his first television interview ever with Consuelo Mack on Mack's program WealthTrack. Below is the video from that interview. Mack has promised to make a longer video available to those…
U.S. stocks at lowest level since 1997
Things were actually looking fairly good during midday given how horrible the credit markets (high yield, asset-backed and corporate) have become. Sure, the bank stocks sold off, but the stock market in the U.S. was holding its own after…
Chart of the Day: Citigroup
Citibank has to be the worst run of the major banks. The result of ridiculous mergers of Citicorp, Travelers, Smith Barney, Salomon Brothers, this unwieldly mess was a disaster that should never have happened. Now, Citigroup has a market…