See Behind
The Spin

Stock Market Report

U.S. Stock Market Decline Just Getting Started

by Oliver Silverstein

June 10, 2008

We've come down from last year's high of 1,576.09 on the S&P500 (reached on October 11th) to today's close of 1,358.44.

 

That's a drop of about 13.8%.

 

How much lower can we go?

 

Short answer: a LOT lower.

 

The bulls would have you believe that this decline or "correction" is nearing an end.

 

Don't believe them, unless you like losing money.

 

This decline is just getting started.

 

The financial system is showing signs of severe stress.

 

Sources report some big name financial firms are in trouble.

 

The collapse of Bear Stearns was not an isolated incident. Expect more high profile failures like it.

 

The stock market has not yet priced in the extent of this financial crisis. When it does, you will see extreme selling pressure of historic proportions.

 

Last year formed the top. This year the acceleration to the downside occurs.

 

The fuse has already been lit. There is nothing we can do to stop the coming explosion.

 
 

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