Massive chargeoffs at CITIGROUP and credit card companies give a different view of environment then most are giving, LINK TO STORY HERE
GOOG reported ahead of estimates, says Recession is over. Tech futures did not light up as far as I can tell yet.....it may or may not spill over.....It's up $15 AH so one would think it would influence action tomorrow.
The bullish scenario: companies have slashed overhead (people, plants) and are sitting here (as I am) hoping for the missing ingrediant...MORE SALES!
Yes I believe that I personally have done this, slashed overhead...sold buildings, my missing ingrediant is sales...but that could be a problem in a Consumer centric society....where they are down, maybe not out.
Market extremely overbought ST, market rally today continued low volume 46% UP volume affair...some kind of comeupins could be not far away.
Quite a few market experts have been suggesting the US will lag world economies. That Brazil, and emerging markets may do better......so they say
D
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