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More bullish news. There is no inflation, that is why gasoline here went from
$1.09 to $1.67 per gallon in 8 days. There are now more commercials on TV for
investments, mutual funds, brokerage firms, and on line trading then there are
beer and auto commercials put together. Housing costs are up an average of 10%
on the west coast and more in other areas. Corporate earnings are down worse
then they were just before the 1990 break in the market. Nothing to worry
about, the average investor and 401k owner is in for the long run and a minor
drop of 20% to 30% wouldn't bother them at all. There is a huge government
surplus. It happens to be the social security tax, which was put into the
general fund, so that more pork could be produced by our elected officials.
Could this be the reason that hogs and bellies are dropping like a stone.
There is an escalating war going on that could turn out to be another Nam.
Asia is awash in recession and China is considering devaluation of the Yuan,
which would do nothing but add greater stability to the region. I'm not
worried, as long as I can still go short when the time comes, there is hope.
Have a Happy Easter and Passover holiday. Ira.
Earl Adamy wrote:
> Stir in the bearish NAPM, construction spending, and labor reports this
> morning and salt the brew with _the_ labor report due out tomorrow morning
> in thin markets. I would have expected the brew to break into such a boil
> that bonds would break the March low at 119^09. Perhaps the fact that the
> reaction seems to be so muted is bullish for bonds (assuming that 119^09 is
> not taken out today)?
>
> Earl
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