It must be!
MArket stalled, momentum drying up, a trading range we got. BUT, what's going on? LMT, INTC TXN AMZN GLW, IBM GOOG EBAY etc etc ripped earnings to the moon baby. Record earnings one after another.
Record housing sales and price increases. Yuan begins to trade more freely? LOW inflation (so THEY say) retailers doing the jig, industrial production screaming (actually that was utility output due to HOT SUMMER) what's not to like?
Record amounts being drawn out of home equity, sustaining consumer spending considering flagging wages.
Disjointed markets, not moving in unison, sharply declining Baltic Dry Index, no one else is talking about.
So what's it all about Alfie?
Economy humming because of housing. We have 70% home ownership.
We have UNSOLD homes on market growing and staying unsold longer.
We have reached critical mass IMHO, and have sold our souls to the devil of future demand and will be left with NOTHING to drive economy cept Federal spending.
Indebtedness reaches every nook and cranny, is at historic levels while there is NO savings, now is that a cocktail for a new bull market?
Duratek
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