Tuesday, August 25, 2009

EARLY MARKET WRAP

The market charges on, grossly overbought, grossly overpriced, not the place I want to jump in.

Chart from March shows a "V" shaped rebound, does anyone see or feel a V shaped rebound? DO any data point to such a recovery?

The bottom of March 2009 has not been tested, it is still my hunch it will get tested. IS the recovery for real? Some BDI data may be weak for reasons of more ships coming on board, but not all the weakness can be explained away.

WHY is NAT GAS at a7 YEAR LOW? Business and power plants are #1 consumer of NAT GAS. WHy has the FED balance sheet growth accelerated at same time Bernanke says recovery is here? FED sheet near $2 Trillion now.

How can the Housing market really recovery with such HIGH UNEMPLOYMENT? Houses being sold are the foreclosed kind....

Stocks are eerily following movement of 1929-32 era.....so we are approaching a similar high as in 1930?

If we have recovery, isn't it time to RAISE rates? GOV stimulus and FED monetizing the debt wont take place of Consumer demand LESS MILLIONS unemployed.

Word that comes to mind is LEMMINGS.

VIX still holding its weekly trendline....for now.
ONLY 3% US $$$ BULLS.......

D

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