Companies sit with large stash of cash. BIG profits have been had mostly by lopping heads, overhead. Now it must be had by increasing revenues....can they?
Fact is the REAL data is had via tax receipts....2009 State level so far reported is down 9% and FED level down 18% and 2008 was VERY POOR.
Extreme moves are followed by extreme reactions..>VOILA 2009 rally.
We are STUCK in trading range the late DEC breakout came on WEAK volume and was rejected last trading day........more weakness should follow.....many think 2010 brings consolodation for next big move.....are we phase one or last phase of cyclical bull?
Look for BIG labor adj in FED model to show much larger job losses.......
BDI has stalled.......hip hip for sideways
D
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