NYSE Market: February 27, 2009: briefing.com
The US government take the major stake on Citigroup (C 1.50, -0.96) in which it announced it is offered up to $27.5 billion on common share converted to existing preferred equity.
General Electric (GE 8.51, -0.59) cut the dividend in which it will give save for the company up to $ 9 billions per year. From $0.31 per share to $0.10 per share.
DOW was close on 7,062 which is below the 2002, a lot of people asking where DOW might go down before it bounces back, some analysts say it might be sideway when touch to 7000 but nobody knows where the market going. As we know, we have no indication telling us that we will get out of this recession soon. we know that US government does whatever it takes to bring every thing back to normal. Unfortunately, the market respond is still negative.
For trader, it doesn't really matter which direction market might go to, in fact we can be in market everyday as long as we know which strategy we apply on this particular situation.
To learn more how to make consistently profit on bearish market
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