Gold bounces, US $ dives, even at single digit bulls, $ is having it's troubles rising in value...as end of qtr gaming is over, boy that's a surprise.....
Morning MSM comments...."Consumer is recovering, will go back to spending early 2010"
"home prices are stabilizing, bottoming case/shiller data proves it..." "recovery will be like all recoveries....it's NOT different this time"
How MUCH recovery is already priced into stocks? No mention of fact Consumer Confidence fell last report and is at RECORD LOWS? considering mamoth historic rise in stock prices?
No mention $8K credit to first time home buyers make BULK of new purchases in data? That higher priced homes just SITTING THERE, NO ACTION? WITHOUT STIM what then recovery?
No mention near $trillion put into banking system with little or no regard to how it would be used and that maybe that fueled current rally?
Why keep saying how gerat it's getting when we are far from out of the woods? IMHO AM employment data MIGHT be market moving, coming at 8:30 will this be too seasonally adjusted?
D
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I see the Shanghai Comp index is down 17% from it's high over the last few weeks. The weekly chart looks like more downside to come. The "Chinese engine of growth" is getting whacked while the weak US economy stock market continues to climb. I call that a divergence that makes no sense; unless you believe in magic or manipulation.
To every magic trick there is an explanation. We know there's manipulation.
This from Walmarts CEO
KUALA LUMPUR, Malaysia (AP) -- The chairman of Wal-Mart Stores Inc. warned Wednesday the global economic recovery will likely be lethargic, even as the retailing behemoth sees great growth potential in China and India.
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