KillPhil08
Experienced member
- Messages
- 1,860
- Likes
- 381
Im taking the ****
i had rather say buy here for 50 ticks 8570 now with stoploss 8453 tgt 8650
Evening all.
Anyone have any idea why the anxiety, re the car manufacturers, hit the DOW so bad so late?
This could have something to do with it
"A $14bn (£9.4bn) bail-out deal for the US car industry has failed to get Senate support, raising fears of job cuts and a possible industry collapse.
Bipartisan talks on the rescue plan collapsed over Republican demands that the United Auto Workers (UAW) union agree to swift wage cuts. "
Keeping in mind their next pay rise ??
Like House sales car manufacturing is another big multiplier in terms of spin-off expenditure it generates. Input that goes into a car is approx 2000-3000 parts. Manufacturers of these parts are likely to be hit. Anyone who buys a car, purchases good many other products in the build up as one is cash rich.
Post car sales there is the travel expenditure in going out and maintenance and repairs to the many garages all accross the land.
Hence, the repurcussions of a turn down in housing and now motors signals a collosal shift in aggregate demand. This is like the demand index similar to the transport index for manufacturing health.
This is pretty big in its impact. No house no car... stay put, don't go out and eat your soup. Things can only get much worse. :whistling
Anyone old enough to remember the British auto industry collapse of the 70s ?
Looks much the same in the USA today-
1. Poor management for decades
2. Over-paying themselves
3.stroppy Unions
4. poor quality / price products
5.
etc etc
Remember all that taxpayers dosh the Labour party poured in ? And what was the end result ? More wasted millions !!
Another easy trade coming up. Sell the Dow (currently 8504) down to 8400 (possibly lower).[/QUOTE]
(hopefully alot lower) it is a full moon after all ......strange things happen in a full moon i really need to put these gann books down
Whoops, this has gone the wrong way. Entries back in at the 8500 area for the expected plunge.
lol