Billy Ford

Wall Street Breakfast: Must-Know News

Its crazy how everyone keeps chanting "recession is over"..."recovery"..but yet retail sales keep steadily declining, week after week. Whats even crazier, is the simple fact that when discussing YOY, we are beginning to get into the time when things got really bad last year and we still are sloping down. Someone, anyone please enlighten me as to why we are so sure that this thing is over. Hey US govt, is the mind trick working yet..Just because you pump positive news into the media, doesnt mean people will feel all happy and go out shopping...oh thats right, they dont have a job, they cant

Wall Street Breakfast: Must-Know News

man o man...at least 1 article a day on how a bank has failed or is losing hundreds of billions, and the market just shrugs it off..they rally on some bs earnings report where some company laid off 30% of its workers to squeak by consensus. Not that i think the market should be predictable, but come on, this is beginning to be obsurd..Well it has been obsurd for a couple of months now. oh well, I will leave with my 2 cents...If you are long this market, you better be really, really, really careful, because 80% of this is smoke and mirrors, and sooner or later the truth will prevail.When that day comes, you better hold on to you hat, because it will be a long ride down...or maybe not, maybe the ones pulling the strings will continue to prop up this market forever with a bunch of bs

Wall Street Breakfast: Must-Know News

New home sales came in at 384K in June, up 11% from May, vs. consensus of 350K. Sales were down 21.3% vs. the previous year. The median home price of $206,200 was down from May's $221,600.

Does anyone else see the problem with this statement. Up 11% vs consensus!! Who cares about consensus!!! This is the same magic show that corporations are trying to pull..We beat the street..YYAAAYY!...oh, by the way (in fine print) we are down 50% YOY...give me a break..Im surprised wall street is buying into all this BS