Friday, December 02, 2005

MUST READ and coming to an end

http://www.contraryinvestor.com/mo.htm

I am afflicted with elbow tendanitus, it is affecting my hands, so unfortunately I must LIMIT my postings, unlike before.

I will attempt to post once a week, either on FRI or SAT, take care

http://research.stlouisfed.org/publications/usfd/page3.pdf One way affair, every correction is followed by more monetary expansion, there seems to be no end in sight.

http://www.naftemporiki.gr/markets/quotegraph.asp?id=.BADI&ctime=5Y&cperiodicity=W BDI refuses to confirm economic/market rally, this concerns me. You can see it correlated to rise from 2002, how it drooped into 2001.

I can ONLY conclude what we are seeing is a f'ing mirage, another Greenspan ASSET INFLATION.

Near $600 B has been pulled out of home equity to finance consumption.


D

2 comments:

michael said...

I was wondering where you were. This market does seem to have all boats rising due to increased liquidity. Can't see other reasons really. Retail sales seemed mixed. Market looking for direction, in the meantime being driven by Wall Street and momentum? Good Luck.

Marc R said...

bp,

Not hiding from market, just damn problem health wise, I can think so much faster than my numb fingers can handle, early next yr I'll have to try surgery to correct, cant lift weights nada!

It seems to me, as acquaintances ask me "why are you missing the rally?" I do have some guaranteed funds in a GRIP plan invested, but generally there isn't much value.

This rally is being engineered and with SO MANY knowing it was coming (end of yr rally bias)

But SO much has come and the trin VIX CPCE etc point to maybe MOST of firepower is used up.

I subscribe to Lowry's now, yesterday they wrote that for such a nice rally their buying power index ONLY rose by 2 pts, this points to short term top IMHO, all expect 11K to be bested...so close.

It takes awhile usually for bullish momo to turn. IMHO we have had 2 days of BULLISH news and the mkt sold off 2 strikes (sentiment and gdp)...

my post this AM covered allmy other thoughts for now. SEE how work wk hardly budging this wonderful recovery? And credit expansion NEVER took a holiday.

next round of FED cuts will most likely fall on deaf ears as lemmings NEVER pulled away from trough. IT could be a financial sector led decline as first article implies.

Take care my friend,

D