Saturday, June 7, 2008

US FINANCIALS : Here we go again!

Crude Oil prices at record highs, Falling Home Prices, Rising Unemployment & Tensions in the Middle East-----The US Markets closed deep in the red, down over 394 points.

I have been bearish on US Financials for a while, and the recent downgrade of the Bond Insurers (yes, they lost their AAA rating at last!!!!) will continue to drag these stocks down further.
Avoid any fresh buying, or value buying here(not cheap enough yet!)

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