The U.S. Stock market is set to open much weaker Monday morning in spite of the fact that Congress appears set to pass the Bush/Paulson financial bail out plan, althought it may be a close vote in the House of Representatives. News that Wachovia is being bought out by Citigroup is pressuring the market, along with concern that the bail out package may not pass in its current form.
Nasdaq stocks are being pressured by some downgrades to Apple as consumer spending is likely to slow in the coming months.
In the face of the forecast economic weakness, Crude Oil is dropping sharply this morning, and the Dollar is rallying as a result.
Stay Tuned!
Scott Cole
www.bestdaytradingstocks.com
www.kungfutrader.com
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