Karl Denninger Site "WHAT RECOVERY?" In fact not anyone's recovery. 3 years after the housing bubble burst, today we get the WORST EVER home sales number in history.. and a 33% PLUMMET from recent data......shows even the putrid interest recently was 100% GOV induced....we need FREE MKTS. GOV nor FED interventionis helping it may be hindering recovery.
99 WEEKS of unemployment insurance not enough for most.....this along with people just NOT PAYING their mortgages has helped fund consumer spending.
MOST ACTION BACK under the 200 EMA, and when we get a bear cross (50 thru 200) I suspect that will be new hard evidence, say what they want, the BEAR MKT has returned.....even though choppy action can continue leaving some doubt.....past history IMPLIES a bear cross is not healthy to your avg portfolio
*Now all that said, the powers that be have given investors little else to go for potential returns. ThE FED is holding the rates where they are. SO its hard to like the DATA, but that doesn't mean that stocks have to go into an immediate death spiral.
IMHO, if fundamentals do not improve there will be little to lure the many into purchasing shares...
3 comments:
The Green Shoots have been mowed over.
"Green Shoots" - another illusionary hologram perpetrated on the American people by Wall Street, Politicians and the main stream media.
ALL they're good at is catch phrases...."CHANGE" unfortunately not for the better
Right ON Brother!
Post a Comment