Benito Camela

Closing Update for Tuesday, August 4

A few ideas:

-- Personal Income goes down then lets buy stocks
-- Consumer sentiment goes down, then lets buy stocks
-- MSFT has its first quarter with lower revenues, then lets buy stocks
-- Mortgage defaults go up, then lets buy stocks
-- Corporate revenues go down, then lets buy stock
-- States have a deficit of $160 billion and are cutting expenditures, then lets buy stocks
-- Commercial real state is plunging, then lets buy stocks

GDP Report Offers Positive Headline, But Negative Details

Momentum players have the upper hand, but fundamentals will prevail -- not sure when.

With income going down, how can the consumer pull this? It is nonsense to believe that we will go back to normal anytimes soon after an abnormal crisis...

Morning Briefing: Testing the Highs

The market is surprisingly drifting slightly lower which opens the posibility of a key reversal day. The conditions are set for such price actions given still deteriorating fundamentals and overbought conditions.

Stay tuned and flat waiting to short this madness.

Seeking the Fix That Will Finally Work

Paulson needs to shut up and act. He announces things that he will do in a few weeks which adds uncertainty (which the market hates).

He needs to just do it. Period. Then the market wil respect him.

Him and Bernanke started the crisis of confidence the day they failed to protect Lehman creditors.

Something will work at some point or people will see no point in selling. All I know is that today we are closer than yesterday to that point

Cramer: Dow Could Drop Another 14%, Oil's Going to $50

Jim is clown. After being a mega bull for the last few years he is now saying the Dow will go down after a 40% drop... Stupid.