The first reader asks:
The markets continue to slide for the sixth day in a row. When will the bleeding end? When do you forsee a day when all stock indexes (DOW, NASDAQ, S&P) are up?
Well I asked the Tarot if the markets would be up next week?
The answer: Yes.
I started having a much better feeling tonight. We’ll see some steps taken here and over seas to change the path of the markets, and they will rally toward the mid-end of the week. Probably Wednesday, Thursday, Friday.
But don’t get your hopes up too high. I asked if the markets would continue to go down?
The changes that are coming next week will help, but my feeling is we are going to be on a seriously crazy roller coaster ride until it all explodes in December. So next week will look better and then things will get wonky again.
So take advantage of the small upturn coming.
The second reader:
Could you please tell me your feelings about these 2 stocks? I would really appreciate it. WB- Wachovia Corporation and JPM-JPMorgan Chase & Co.
I asked the cards if you should sell Wachovia right now:
Maybe. I hate when the tarot does this. Here’s the deal, there will be some good news coming up about this stock, they are going to go into hiding for a while and regroup. Their leadership was wonky and the change over will be difficult, but there are some good people coming on board to help them. I would say, use your intuition. This stock will not fold right now, you have at the very least a few months to figure it out. Right now is not ideal. You are really going to have to pay attention to get out at a good time unless you want to wait.
For more clarification, I asked will this new version of Wachovia still be around in the next few years?
So it looks like you might want to find a decent time to sell over the next few months. It seems that for all the good intentions there are deep rooted problems, secrets, and seriously bad business decisions that can not be reversed.
JP Morgan Chase:
I was seeing a down turn and asked the cards if it was going to continue or go that direction in the immediate future.
The Answer: No
But here’s the weird part I also got the feeling that they would go under and asked about that and it came up: Yes.
It seems to me they will do OK right now, seem stable compared to a lot of other banks, but around March of 09 you’ll start to see things shift, some bad news, some bad decisions. They’ll try to merge with another company and that will end up killing them. So I would say based on this, you might want to try to find a point when they are up and take advantage of getting out. There is a possiblity that they will merge with the other company and be absorbed by them which is why the death card comes up, but I’m not a financial expert so I don’t know what that means in terms of your stock. If another company gets ownership of JP Morgan and dissolves them into this other company, I don’t know what reprucussions if any that would have but you probably do. So, basically it will ultimately be a better more stable company and if your stock still applies to that situation then you should sit on it.
Sorry, I’m not an economist. I don’t understand the finer points of how the stock market works. I wish I could give you more precise info, but basically JP Morgan is OK for now and will merge or be bought out by someone better next year, probably in about 6 months, but you’ll see rumblings of problems in about 3 months or around March of 09.
Hope that helped.
Good luck and best wishes.