Friday, May 20, 2011

NO LAUGHING MATTER...POTENTIAL DOMINO

http://finance.yahoo.com/news/Fitch-cuts-Greek-rating-warns-rb-4091943276.html?x=0&sec=topStories&pos=2&asset=&ccode=

"ATHENS (Reuters) - Fitch cut Greece's credit rating by three notches on Friday, pushing it deeper into junk territory, and warned of more downgrades if the EU and the IMF do not produce a credible plan for the debt-ridden country."

Yet GOOG can sell bonds for 2%???? for 10 years? the WHOLE system is out of whack...what is REAL and not?

GAP and retailers getting whacked.....maybe something posted SAT, charts what have you

D

3 comments:

Anonymous said...

Well Google certainly has more credibility than Greece. But that said why lend money to anyone for just 2% for 10 yrs? You cant even beat inflation with those numbers. On the other hand people get very little interest in bank CDs so my guess is they see 2% as better than 0.6% or whatever the CDs give.

Greece is cooked. Nut its small and so is Portugal. Real SHTF mess will start once Italy and Spain get into the picture. Protests are picking up steam. It should be fun over the next few months!

Marc R said...

Well said. Notice yields on the 10 yr notes? 3% are u F kidding me? rates RISE in an expanding recovering economy.....sheeple dont go running for cover like that...f goog and their 2%...this is a sign of problems and insanity.
We might be in inning 3 or 4 of world debt crisis for all I know.

FEWER and FEWER stocks above 50 DMA and participation continues to weaken.....the players can dominate enough issues to make it appear all is well.

Tops can take long to form....take a daily back to 1990 and you see a broadening megaphone top formation...bearish...of COURSe its bearish! How do you pile more stupid debt on top of the krap already there choking us,have the govt be spender of last resort for even more unpayable debt and call that nirvana?

Anonymous said...

Well I hope more people read your blog because when the bear market finally bottoms sometime 2016 or so all these people will be wishing they had some capital left to invest.

Broadening top yes. Also you can see this way: the 1990's make a left shoulder (look at the DOW) Then we have 2003-2007 head and now we are forming the right shoulder. Looks like a massive Head and shoulders formation and the target is around 5000.