SP banking share plunged into 50- 70 % correction by Dr. Warren Huang
Sunday, June 29th, 2008Comment to Yahoo Finance June 29, 2008
I warned on Wall Street Market beat blog last Sept that Fed rate cut cuts can not stop housing price slump into summer 2008, drag economy into recession, stock into bear market correction banking, finance share plunge 50-70 % and plunging dollar, economic stimulus package push soaring oil , commodity price in summer peak demand, resulted inflationary recession will drag banking share further.
SP banking 50 % correction is just phase one correction, it may have some bear market rally, and then plunge ito phase 2 correction, 50-70 %, reflecting further housing market slump resulted credit crisis and job cuts, stock market crashed impact on banking sare performance
details on www.osawh.com/mortdefa.htm www.osawh.com/Fedcrisab.htm www.osawh.com/recession.html www.osawh.com/fund2008.htm
Walmart May sale increase are benefited by rebate check, can not be sustainable after July , and profit margin are squeezed by heavy discount,
That is why Walmart postponed its store opening investment., It share price all ready peaking out.
Economic stimulus will continue drive up consumers spending for food, oil, consumer products to July, supporting record oil, commodities prices and inflation. Gold price will be pushed up by oil, price, inflation and weak dollar to retest 990.
details on www.osawh.com/mortdefa.htm www.osawh.com/test.html www.osawh.com/fund2008.html www.osawh.com/commody.html