Wednesday, January 16, 2013
WEAK BEGETS WEAKNESS
WASHINGTON (MarketWatch) — Manufacturing activity in the New York area contracted for the sixth straight month in January as orders dried up given uncertainty over the economic impact of U.S. fiscal policy, the New York Federal Reserve Bank said Tuesday.
The index fell to negative 7.8 in January from a revised negative 7.3 in December, originally reported as negative 8.1.
Economists polled by MarketWatch expected the index to stay in negative territory at negative 2.8 in January. See comprehensive economic calendar.
LINK TO FED CHART
http://www.newyorkfed.org/survey/empire/empiresurvey_overview.html
Smoke and mirros economy continues, lining the pockets of the CONENCTED, bending ocver most everyone else.
D
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5 comments:
Manute say you still bearish? Wow
When he shuts down blog, sell. I feel sorry for the people he so called "saved". Tune in to my weekly radio show. Jack B
It's a shame, bears are going out of business. I still watch your spx vix ratio you sent me. Good stuff. Keep your chin up. Maybe you would be interested in taking over Dow Theory Letter? Send me your resume with proof of understanding Dow Theory and the fathers who provided us with this valuable knowledge. Richard Russell
Listening to your show is like being drugged on LITHIUM and drooling on yourself.
I cannot save anyone, RISK is mispriced all over the world....the FED cannot remove a stitch of pablum or it all falls.
Watch int rates....$
Richard, I love you man. No ONE wants to see you stop writing, you are one of the most genuine writers in the biz. I also run an office furniture company by myself here in B'more and I have the same caring for my customers.
I love to write, and my interest in the markets knows no bounds, but I would think your daughter would continue your work?
What you should do is SLOWLY bring in someone, train them to do as you do, keep the integrity of your writings and philosophy alive...instead of a dramatic shift.
Then let them begin adding a portion to your letters and guage subscriber reaction.
There could be no greater honor than to be associated with you, my resume' is what I have written for over 15 years.
You have always taught safety first, "in a BEAR MKT everyone loses, those who lose the least win". HUGE risk taker I am not....learned to ride some FED actions....sure...with a golden jingle in your pocket. Take care RR
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