Down rallye accelerates into H1 end …
Nice downrally today as many investors abondaned equity positions ahead of H1 end.
2 pieces made all run for cover …
1. Goldman Sachs recommends to SHORT Citibank and Merill because of MORE WRITE OFFS …
2. Rating agency Fitch sees a possible cash crunch in 2009 for GM and Chrysler … even rumours of an immediate filing for chapter 11 of Chrysler went around the markets.
Technically it is NOT the end of the downmove … rather the KICKSTART … so BE AWARE!!!
