Saturday, July 28, 2012
CLOSE UP OF CURRENT SPX RALLY
There is not volume nor conviction in the market, what we have are hopes and prayers and sound bites that allow the players to hose the shorts with weak hands.
REALLY....is a 1.5 GDP a sign of good news? REALLY? Is a promise to "defend" the EURO by one of the players a big deal or anything new? Does it help their economies that are sinking or lower their interest rates that are making it impossible to fund their debts?
Here the 1.5 GDP is said to be a MEET EXPECTATION or BEAT??? on one hand and the other opens door for "MORE FED INTERVENTION"??????
Not in any life I live does any of that add up for me, nor does the market action which is msking underlying weakness and warnings from some our top companies about future earnings and prospects for the economy.
Posted by Marc R at 5:59 AM