THE OPEN
Markets open mixed chopping around between green and red but GM - noticably weak this AM as the big guy probably didn't impress the base.
Anyhow, the key to the market continues to be the internals and if you follow those trading should be ok and it is my plan- this AM- red 1300 on the NYSE and red 500 on the NAZ.
NDX/OEX about in line with the overall numbers- so look for lower prices on the indexes.
Sectors- strength in metals, internets, biotech and utils while real estate, brokers, shipping and banks are weak.
VIX- flattish at 69.6;
What I want to know and would like one of my reps to ask is - If you are blaming the recent problems on the "extremely weak economic environment and global financial crisis" - what happens if it lasts much longer than everyone expects - like 24 or 36 months- how do I get my money back? Hmmmmmm.
How about this idea- let the HONDA/TOYOTA/VW etc. car companies of the world merge with the better GM /F/Chrysler brands -pick up many of the employees/plants and let the government loan money to the solvent companies with the good balance sheets.
Also - Barry bloggin about the PPT- and adios to Scottie who won't be back on TV anytime soon.
posted by DAVID at
10:00 AM
2 Comments:
I would think that Honda and Toyota would not want any part of GM, etc, because of the Unions. Would a merger be able to break the hold of Union labor? If not it would be smart of Hon/Toy to stay away, because it will kill them like it is killing GM.
Adios to the unions or a renogotiation to put the pay on par with the other non union auto workers---
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