Saturday, March 17, 2007

SMACK BETWEEN THE EYES

Subprime woes, where it ends nobody knows. Greenspun telling any fool who'll listen this will spill over to broader economy, which is SURELY SLOWING DOWN. This from the idiot who started it all spinning money like gold from wheat?

Avg Joe holding tight, money flow still going into 401K's and foreign purchases of our funny money debt goes unabated. Game on!

Meanwhile the grumpies are lining up in front of the PUT money machine ready to CASH IN on a frumpy dumpster market slump coming to a front page near you. Not so fast?

When has the market made it easy to know where it's headed? NAZ continues to underperform. Bond yileds stiffened up at near 4.5% the 10 year.

Market has been following the action of the YEN, whenit goes up the market goes down, further evidence of weakening of carry trade liquidity drain?

Consumer confidence is falling, reaction to all this? Economic indicators in the crapper......put/call ratio near a hist0ric leaning meaning VERY PESSIMISTIC

VIX is rising, weaker market until this trend reverses IMHO

D

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