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Sign #3: The banks will lead us down again

Posted Sep 19th 2009 11:00AM by Michael ShulmanMichael Shulman RSS Feed
Filed under: Forecasts

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october market crashThe banks led the markets down, and then led it back up. And when they announce earnings in October, they are almost positively going to include comments about 2010 that will help send the market back down.

The banks still have trillions of dollars in toxic assets and increasing credit losses, and they are facing new accounting and regulatory rules that are pressuring them to raise capital and dilute shareholders.

And the market is not likely to react well to this news.

Next: Sign #4: No positive catalysts on the horizon

Tags: banks, michael shulman, October market crash, toxic assets

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Symbol Lookup
IndexesChangePrice
DJIA-14.2810,318.16
NASDAQ-10.782,146.04
S&P 500-3.521,091.38

Last updated: November 22, 2009: 09:08 PM

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