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  • Non-Farm Payrolls: 524K Jobs Lost in 2 Months [View article]
    October will be revised lower because the date around which it was collected was 10/12/08.

    The NYSE hit a lower Low on October 24th, everyone seems to have chosen to ignore that particular statistic. That was almost exactly 50% off its 52 week high. A Dow figure of 7,150 or so would be equivalent, divide the S&P by 2 and you have sub 800. I have more respect for the nyse figure because of the number of issues involved.

    Pundits around the nation also seem to revel in the fact that the BKX has managed to remain higher than its lows. I submit that this is a statistical abnormality created by the mere fact that some of the previous tenants no longer exist.

    Two recessions for the price of one. First the financial one, still alive and well, now the inclusion of the consumer recession. The consumer led recession has only just begun.

    Retailers expect to hold Black Fridays for a week prior to the one after Thanksgiving. Internet sales are expected to go down dramatically because retail stores will have better deals.

    The Obama Rally is over, the Obama VIX has only just begun.
    Nov 08 15:20 pm |Rating: 0 0
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