Tuesday, September 21, 2010


Power of broken trend lines and support. FED meeting....gap up right after...weak close....blah blah "we stand ready to do more...whatever it takes......"
10 year TIPS are back to where they were year and half ago.
I provided links to gluskin sheff....in the most recent morning piece (you can sign up for one week free trial...)the contrast is shown to the NBER Recession is over tune, and the reality...Philly Fed falls....Manufacturing index EMpire (NY) falls to 4.14 where 7.0 was expected.
Nat'l Assoc of Home Builders at 13 vs 14....sentiment consumers Mich survey plopped to 66.6 from above 70.
SO much of our economy depends on housing, how can we truely recover w/o it?
Article goes on to point out that in a NORMAL RECOVERY the NAHB index is around 54....in Recession it is around 28........and it just came in at 13 !!! enjoy the stock rally

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