Warm_Paw

Friday Wrap: This Market's Running on Empty

It must be the infusion of dollars keeping this market going, because nothing else is. The earnings are a joke with the FASB accounting changes. Major unemployment, more oil than we know what to do with and the price keeps climbing, where the banks are with toxic assets is anyone's guess,the dollar should be tanking and isn't because the rest of the world has worthless currency (they've already went this route).
Bottom line is the country has offshored the employment and without a consumer there's no way this situation is going to buy itself out through inflation. The govt has pulled out all the stops without realizing this isn't something that's going to get fixed with good old fashion brute force or throwing money at it.
Wall St. continues to manipulate to get a fire going not realizing investors are staying on the sidelines because up is down and black is white. There's no stability. There's no logic. It's become a crap shoot. That does not create confidence.
Where this ends up - nobody knows.
I agree with this article in that the market is due for a correction. The fact that none is coming just tells me that when that correction comes, it's gonna be a whopper!
For that reason I remain on the sidelines. Who wouldn't. For anyone making money in this market right now, I'm happy for you.
Know this, the S&P grudgingly rises, but when it or the DOW fall, they do so with a vengeance.
Picking up pennies in front of a steam roller.
What do you invest in?
One day they have no where to store oil and it goes to $69 - the next day someone's highjacking a ship or Opec's cutting production and we're back to $75. I've fallen off cliffs with a more gradual slope.
The dollar is what the world's watching. Once the Fed HAS to raise interest rates, it's strength is going to wipe the markets out.
As if there was ever a currency that would have the credibility of the US Dollar.