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In spite of bailout bill, US stocks will fall slowly for the next five years – Futures provide the clues
Fred Day
Oct. 1, 2008
Do not expect another 800 point down day in the stock market. Stocks are poised to fall slowly for the next several years. All long term bear markets are accompanies with sharp countertrend bull rallies that wipes out novice short sellers.
US stock futures fell, signaling the Standard & Poor's 500 Index may pare the biggest rally since 2002, as investors speculated a $700 billion bank-rescue plan from Congress will fail to avert a recession.
GE, the second-biggest U.S. company by market value, lost 1.5 percent to $25.11 in Germany. Caterpillar Inc., the largest producer of construction equipment, fell 0.6 percent to $59.22.
S&P 500 futures expiring in December lost 9.4, or 0.8 percent, to 1,159.6 at 10:19 a.m. in London. Dow Jones Industrial Average futures slipped 0.6 percent to 10,791. Nasdaq-100 Index futures fell 0.9 percent to 1,590. Stocks in Europe and Asia advanced, while Treasuries climbed.
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