Bargain hunters are lurking around; waiting to see Q4 results. Again, it's down due to sellers selling, and no buyers buying due to anxiety. Alcoa will kick off a "disastrous" earnings season but any hints of STEEL production BOTTOMING will boost the commodity and stocks. The banks will report a stronger balance sheet and will warn on weak earnings ahead, but that's all priced in. Any hint of a turnaround will spark the stocks to rally.
Added on January 12, 2009, 11:43 pmYou want the earnings to be bad, you want the econ data (lagging indicators) to get worst so the government will stop its political bullshit and get to work.
The main worry for WALL st right now is not the earnings, is about CONGRESS on two issues:
STIMULUS Package: How big, and will republicans shoot it down
TARP remaining money: Is Treasury going to get it earlier?
Any hiccups on any issues will bring the market further south, to test 7600.
Added on January 12, 2009, 11:55 pmQUOTE(SKY 1809 @ Jan 11 2009, 09:35 PM)
What do think of Ramunia.
T Haji counter, with net loss .
Added on January 12, 2009, 12:37 pmRAMUNIA – Analysts say investors should not forget Ramunia’s capacity to clinch new contracts even though the failed RTO has clouded an uncertainty on its prospect. Further to that, the company still has valuable assets on its oil and gas fabrication yard. The yard, which is the largest in Southeast Asia, is spanning 170 acres in Teluk Ramunia.
Recently, the company also clinched a new contract worth 700 mln from Shell and PETRONAS bringing its order book close to 1 bln.
Analysts noted that they are not ruling out MISC relooking Ramunia in the future. There is also speculation that at least two other parties are looking to acquire Ramunia’s shares for its fabrication yard.
Yup, the statement above is true.
This post has been edited by AdamG1981: Jan 12 2009, 11:55 PM