GE, the conglomerate posted earnings IN LINE with "expectations". They "raised" earnings guidance 2 CENTS at the LOW end, basically just narrowing the estimate. the GE FINANCE arm, not surprisingly (mortgages consumer credit) has been a MAJOR factor.
SO IMHO, GE may lead on the way down as this source of revenue tops and begins to dry up.
We have had 2 days of negative BREADTH in a row while DOW rose, McClellan OSC also sunk during this time, showing weakness of rally.
I have pointed out the non confirmation which exists while the SPX made NEW 2005 highs. A market that doesn't move together is usually a market in trouble, though it may not l00k like it.
More data today, but does it really matter?
GOV BLS stats show little or no inflation? Now how is that when we have RECORD OIL PRICES (PREM hit $2.59 here yesterday REG $2.39) and HOUSING has tripled or more in some areas, SHARPLY rising property taxes tuition, food costs, and health care premiums, and we are told we have BENIGN inflation? INQUIRING MINDS DON'T want to know.
WE have an economy and administration built on LIES.
I have shown the world indicator for economic strength the BDI INDEX continues to sharply decline! WILL the TRansport Index confirm and follow? DOW and TRansports NOT at new highs for 2005 as SPX is.
DOW rising while breadth declines smells of MORE INSIDER DISTRIBUTION. PUTS being given away. 10 day stock CBOE put call ratio near .50
WE NEED energy conservation, we GET a HUMMER! When I look in to parking lots, I see a sea of SUV'S trucks and VANS! AVG 15 MPG or less. Does this FLY in EUROPE?
WHY do US car companies continuously sell cars at large discounts VS on quality? I answered my question.
INSTEAD of INVESTMENT we get M and A activity, which doesn;t create jobs it DESTROYS THEM.
New PUSH POP at BoB Evan's, is also a Batman Light. $1.59, throws off a Batman signal, Made in CHINA.
Having things made in China should not necessarily been a bad thing, but it didn't follow all good things in moderation.
Economy held up by rising ASSET inflation (housing), we have traded ONE Boogeyman for another, problem, it's still a boogeyman. BUT one that is a might more less LIQUID!
Duratek
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment