Market Watch week 1, The week of the bears

[Flipperk]

Hey think im going to start up a new thread on every tuesday to talk about what has happened, and what we think will happen in the stock market in the week to come. Discuss our opinions of stocks and Ect.

This week on wall street:

After a huge bull run on the market the past two weeks, with 35% of all market volume going through, Freddie Mac (FRE), Fannie Mae (FNM), American International Group (AIG), and Citigroup (C) the week of the bears is here. Monday started off in a huge mix up of bears and bulls. With the Bears hungry for the correction of a HUGE gain all around the market and with the 4 stocks mentioned above, some stocks hitting over 100% in value in just 2 weeks, the bears have arrived and the bulls are now outnumbered, which explains the huge draw back that we saw today with the DOW and NASDAQ dropping a staggering 2% in just one session alone.

AIG dropped from a peak of 55$ on Friday morning to a close at 36$ today -9.33 (-20.58%) and going down even further to 34.14$ -1.87$ (-5.19%)at the end of the aftermarket.

FNM and FRE showing the same story both dropping -17% at the tuesday close, but making a small gain in the aftermarket.

 Tuesday closed with DOW at 9310.6 down -185.68 (-1.96%) and NASDAQ at 1968.89 -40.17 (-2.00%)


**Personal Opinion**

Today i pulled all of my stocks out at the open, saw the premarket for my stocks (AIG,FNM, and FRE), and said...oh ****

AIG - Bought at 21.50$ sold at 41$
FNM - Bought at .89$ sold at 1.84$
FRE - Bought at 1.09$ sold at 2.16$

Overall a +90% gain over the past 2 weeks

I think the mad selling and short selling will go through thursday and maybe even friday. I suspect a break even on thursday and a small gain on friday, with a 3 day weekend coming up it could easy alot of people, and I think next week will bring another bullish market back to town.

What are ya'll thinking?

[Flipperk]

Wednesday Sept. 2, 2009 10:00AM ET


**NEWS**

The BP company based out of london (BP.L) has reported to finding a "Gaint" oil discovery in the Gulf of Mexico. They report that its likely to be bigger than its earlier Kaskida discovery which has over 3 billion barrels of oil in place.

BP.L is now trading up 4% after this press release.



**NYSE**

After the private sector reported more unemplyment earlier this morning, the stock market has been at another mix up, opening at almost near even with the DOW and NASDAQ. After the huge sell off from monday and tuesday sessions, buyers are starting to come back as reported stocks from earlier this week are starting to level off, except for FNM and FRE which are still dropping in double digit precentages.



With this being said, we should expect another down today on wall street. Will report back at the close.


Please leave comments or questions

[Rondar]

Ok Flipperk, been watching for you to update here, but nada.  So, thought I would show some interest and maybe get you interested in this project.  I dont have too much to add, but am very interested in learning things of this nature.