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  • Closing Update: Stocks String Together 3 Straight Wins, Commodities Gain [View article]
    "July consumer credit fell at 10.4% rate, the biggest decline since the government began keeping records."

    This is the type of indicator that tells us we are not headed toward a recovery any time soon.

    The market can do as it will, but the belief we are heading into a growth in demand is silly. The stimulus and junker car programs were going in July and consumers did not spend; may have paid down some debt. The road to nowhere is long and winding and we have just started. Liquidate the dead banks and start over in banking.
    Sep 08 16:52 pm |Rating: +5 0 |Link to Comment
  • Closing Update for Wednesday July 8 [View article]
    Got to wait for some earnings and the reactions to see the whole card of the table.

    If the earnings vector is down we have problems. I am hoping for a run up into Sept starting about July 17th.

    After than comes Sept and Oct, both negatives for Q4. I think we follow earnings and a reduction of the multiples which means a lower market.
    Jul 08 18:28 pm |Rating: +2 -3 |Link to Comment
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