I had every intention of waking up this morning at 7:00 am and driving to my polling place to vote before work. But when my alarm went off and I pressed snooze once, and then again, and then one more time I realized it just wasn’t going to happen. There is little else that is as precious to me as sleep. I would of liked to have my free Starbucks before work this morning, but I’m just gonna have to vote after and take my coffee to class.
The election is good for more than just free coffee too. Ya, who would of thought? Nevermind the future of our entire economy, civil rights, and government, gimmie the free coffee! The Dow Jones surged 300 points this morning as investors are ready to put election and economic uncertainty behind them. Investor sentiment has also become more optimistic as sentiment for the NASDAQ and DJIA has surged into the extremely bullish territory while sentiment for the SP500 also remains bullish.
PredictWallStreet’s published 5 forecasts this morning. Forecasts have been proven to boost trading performance and lead to an increase in revenues from trading fees to brokers. While using the widget to check sentiment and predictions from millions of users is also helpful, the forecasts are the creme de la creme of information on the site and are proven to help you become a better trader. And if you are unsure, or just scared of the market like me, I use them to make predictions on stocks and then check back to see if they were right. And so far, so good!
General Motors (GM) has been forecasted to close UP today. This is a little bit surprising to me solely because GM was just denied $10 billion from the US Treasury Department in assistant with there attempted Chrysler LLC merger. GM, along with Chrysler and Ford are being pushed to the brink of bankruptcy and the auto industry weakens alongside consumer spending. GM’s last hope right now is the $25 billion loan program aimed at develoing fuel efficient vehicles. There are over 150 predictions on GM, and about 78% of them have predicted up. Perhaps users feel optimistic about the future of this iconic car company, but this time I’m gonna have to go against the masses (and the holy forecast) and predict down. Let’s see tomorrow who is right-my brain or the collective.
Exxon Mobil Corp. (XOM) is also forecasted to close UP today. XOM set a US profit record last Thursday and is riding the good wave out. While analysts believe profits will dip in the short run, they remain bullish on the major oil players. Clearly XOM beat all expectations proving its resiliency and sustainability. I don’t really understand much about the oil playing field but I do know gas prices have dropped dramatically. But rather being naively happy about this like most of my friends, I’ve become uneasy as prices began to drop in the low $2.00. Maybe I have trust issues, but it seems that the cheaper oil prices become, the inverse happens to our economy. Sentiment for XOM is pretty bearish, although 63% of predictors believe XOM to close up today. I predicted XOM up as well. I think they are going to feel the benefits of this “record profit” for a few weeks.
The other forecasts include DIA, CSCO, and HAL but you will have to go check them out on your own here.
Don’t forget to vote today! And don’t forget to vote for the right candidate. Ha. I’m hearing rumors you can not only get free coffee today, but ice cream and doughnuts as well. While its illegal to encourage citizens to vote through free stuff, no one ever said anything about rewarding them with free stuff AFTER they vote.
Stumble It!
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