The following are ALL REASONS FOR SOME ANXIETY on Main Street:
- Citigroup is a DISASTER--they crush shareholders so that their managers can get paid! Didn't Cramer say 11 bucks by 2010?
- FDX pre-announced last week for this quarter. They then release their earnings with soft guidance after having baited longs in and trapping their shareholders.
- 10 states are coming out to urge Congress to investigate Goldman on their involvement in the mortgage disaster/credit crisis. Meanwhile, they will be paying a billion dollar bonuses to that committed the alleged fraud.
- Gold closed on highs yesterday and gaps back to swing lows today.
- The market is opening at some important support--1,092-1,095, then 1,085.
- Quad witching is tomorrow so maybe they "want an 1,100 close" so all calls and puts lose!
- For today I will take caution. I'm looking for a bounce in XOM--the stock has been crushed--it's time for a day and a half long.
- Watch BAC as well--it was upgraded and now has a new CEO.
