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Notable earnings after Tuesday's close: ACAS, AUY, BID, BMC, BRE, CAR, CBL, CEDC, CEPH, CTRP,...

Notable earnings after Tuesday's close: ACAS, AUY, BID, BMC, BRE, CAR, CBL, CEDC, CEPH, CTRP, ERTS, FRT, HLS, JLL, KFT, PL, PXD, SOLR, TSRA, UDR, UNM, VCLK, WFMI, XCO
Comments (1)
  • hedonist
    , contributor
    Comments (44) | Send Message
     
    Even if earnings look positive on some days, they shld be viewed as blip/aberration.
    Oil is approaching the same region from where the markets reversed last time at abt $73; lets be lenient and extend this figure to $75.

     

    Some of the data coming out on housing LOOKS good, but one should also digest, that this is due to 35% of all sales being distress sales!!
    As a result if U notice, home prices are actually falling!! So there is NO "wealth effect" or propesnsity to spend!!
    So this is the housing industry-linked consumer who will not spend.

     

    Now lets come to the Jobs related spending:

     

    The last non-farm Payroll report was a disaster!
    Is there some way we can determine how the next report on Aug 7th will be?
    Yes, very much so!

     

    There are 2 leading job data indicators, with intense studies, that are linked to growth. As its a proprietary analysis, I cannot reproduce them here, but both those have turned sharply down last month, auguring quite a spook ahead.

     

    Even tho the ISM has come out a tad better, of what use are more goods, if consumers aint gonna buy them?

     

    Bottom Line: At best, the non-farm Payroll report will show no improvement.
    On a neutral position, the non-farm Payroll report AND the jobless claims will be BAD to spooky. Do remember me on that day!!
    4 Aug 2009, 05:53 AM Reply Like
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