Futures Signal a horrible day,Gold Soars (GLD)(UGL)(AUI) 8/19/2011

Posted: August 19, 2011 in Dow Jones, Economy
Tags: , , , , , , , , , ,

American International Group

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Yesterday Futures for Dow Jones Industrial Average were down 178 points. Of which is 132 points off or below the fair value, at 10,839. Futures for the S&P were also lower by 20 points, or 16 points below the fair value of 1123. Nasdaq futures were also hit falling 36 points, of which was 26 points below fair value. Yesterday 8/18/2011 Stocks plunged as financial pressures continue to be a sour subject. Not only has there been talk of a global recession but a double dip for the United States. Continued disappointing news on economic data surfaced as well. Jobs have continued to fall off. Bank of America (BAC) also said they will slash 3,500 jobs, and make more cuts. Verizon wireless (VZ) still has 45,000 on strike just in the North East. I expect the unemployment rate to continue to soar as we are heading to the winter months. Many need to understand that more jobs will be lost. The dollar will probably continue to drop as we just keep printing money are money is not even healthy anymore. Many will pull there stocks as they are feared for losing everything. Will this be the start similar to the AIG meltdown. With worries now of the European Banks in the gutter. Nothing seems like it is going good except for GOLD! Gold his continued to hit new highs, Over 1830.00 an ounce this past week. Many predict it to hit $2500.00.  Will just have to wait and see.

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Comments
  1. Scott says:

    Solid article keep it up

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