Tuesday, February 5, 2008

Analyst-a trait or soothsayer.


Monday blues,and we have analyst who are here to spoil the party on Wall Street again.They all have a pwerful hand to disintegrate the world's financial markets through their regular downgrades.
The Wall tumbled with a 108 kilos bombshell when analysts appeared in their manequin to instill an art of fear to fellow investors.
The downgrades of banks and credit-card issuers pushed the stock market lower, underscoring concerns that Wall Street's mortgage-related woes aren't yet resolved.
Citing the risk of a consumer-led recession with rising unemployment and credit losses, UBS also downgraded Capital One Financial and Discover Financial Services, which fell 7.6% and 9%, respectively. Merrill Lynch downgraded Wachovia to "sell," sending the bank's shares down 8.3%. Stifel Nicolaus also downgraded Wells Fargo.
The latest leg of the credit crisis has surrounded the solvency of insurers MBIA (MBI) and Ambac Financial (ABK).
Last week's advance was just a temporary respite from all the selling and with the rebound it's an excuse to lobby for a sell-down and start the musical chair again.
A tumbling block with the day's trading ending with a bullish hammer at the ground level.
The bears seemed to be in full control with successive growl which is deafening.he bulls have to run for cover.
The pair of candlestick have pierced through the upper section of Thursday's candlestick.They are trying to cover back the white body.Caution is the name of the day.