Company is going to sell addt'l 14 million shares to the lemmings! Only one yr after going public? this has been an insider boondoggle.
SO many stocks and or indexes sporting leathal Head and Shoulders formations, inclu leading Transports Index (it has broken down from it) and the BDI influence which has already plummeted below where it began in 2002 may have caught up with Transports.
Strong dollar and weak metals incl copper, oil and gold. Deere sharply declining with Cat maybe putting in a high.
Not so much talk about housing bubble as there is talk of "slowdown" in price rise. IMHO, as shown in record permits, too much inventory is coming into market that is near or already saturated!
We have sub prime lending and piggyback mortgages, or no interest loaning getting all in who can be gotten. Speculation rampant, the scene is set. Housing index another in H and S formation breaking down, along with retailers, incl WMT.
Market shrugged off declining oil, where is the relationship? there is none.
Several airliners going bankrupt, get ready to absorb their pension plans.
Temporarily Bonds reacted to inflationary PPI readings, as it doesn't take a genius to figure out record oil is filtering down into economy.
Meanwhile housing, rising property taxes, fillups and food tuition etc, ROB consumers of spendable consumptive dollars, sending them deeper into debt with high interest credit cards with no savings rate.
How "they" can put a smile on this pig is beyond me, or how the lemmings each and every time seem willing to go along!
Guess what? record SPX earnings ushered in by record energy and financial profits (mortgage and spread plays) has done its best, now the market will begin to reflect what we do not see yet.
Duratek
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