vicelord

Why Another Stock Market Collapse Could Be Imminent

Another bit of insight - Consumer spending came in this week @ -1.2% annualized; TWICE the decline expected by the consensus,... and the S&P only dropped 3 points? Correct me if I'm wrong, but doesn't consumer spending account for 70% of the US economy? 3 points on the S&P? And they call this a "down day." They will say that bull markets are cruel and you'll miss the train waiting for a pullback. Or they'll try and pass THAT off as a "pullback", once the market goes on another 2 week tear. I don't even consider today a down day.

You want to hear crazy? We all saw what happened to AIG today, but I saw that coming, which is why I bought 3K shares a little under 13 a week ago. But you also had FRE and FNM, for God's sake, up 30%. TGIC, which is basically insolvent - as in: flat broke - was up 66% and closed at the high of the day. ABK, another miserable piece of shit company sitting on untold losses, was up 34%. BAC, with their now legal & Gov. sanctioned Enron-style accounting, was up another 7% today, making it 25% in the last 3 trading days. No one even really knows what's on their books, for fuck's sake. No one.

GGP, a bankrupt company, whose book consists of a slew of dead, empty malls they are underwater on, was up 22% today.

And this was all on what the paid shills @ CNGE call a "down day."

We are through the looking glass, for real.