Quote:
Originally Posted by Snowwolfe
Could easily be true. But another possibility are parts shortages which lead to less vehicles built and delivered. This could force a dealers hand so they charge more than they normally do so they can recoup their profits on fewer vehicles.
Myself, if you find the exact car you want at a decent price and the dealer doesn't jerk you around, buy it. You could die tomorrow so enjoy the time you have left.
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Work is the last thing people will skip out on doing for long periods of time especially if the economy is tanking and jobs are on the line anyway. Making big purchases especially on a car that is basically a toy on the other hand are much more likely to be put on hold in times of big uncertainty or a recession. If it gets bad enough people can’t go to work I guarantee there will be good deals to be had on all kinds of things that aren’t necessities.
The DOW got a bit of support today because it hit the first Fibonacci retrace target. The bounce was actually pretty small for hitting a fib target but traders don’t like to open long positions on a Friday like this with who knows how much more bad news could come out over the weekend.
These corrections almost always move in a 1-2-3 wave pattern where in this case 1 would be the down move from the high, 2 will be a bounce back up, 3 is the real pain and is almost always bigger than the 1 wave was so I expect more pain to come.
Anyway I’m getting a bit off topic for a car forum but the point is all this uncertainty adds up to good buying opportunities for people that are still willing to spend money when most aren’t on all kinds of commodities not just stocks.
* Not a financial advisor just in to technical analysis and trading, this is not investment advice yada yada