SP banking share plunged into 50- 70 % correction by Dr. Warren Huang
Comment 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
