Market Open: FDX Misses As I Warned, Morgan Stanley Not Good, Fifth Third Raises Money and Slashes Dividend
June 18, 2008 9:39 AM
I warned last night “Extreme Caution” on the market. All of the news today was ugly. FDX missed and warned, as I said was likely. Morgan Stanley made basically nothing when you strip out a one time gain. Fifth Third bank had to raise more money and slashed the dividend. The market would be justified in a plunge, be careful long anything. Watch Thursday’s low on the SP.
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