John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: ggersh who wrote (13519)	2/4/2013 8:43:09 PM
From: John Pitera	3 Recommendations Read Replies (1) of 33421

The Euro zone is screwed with the Euro appreciating so much.... it's going to hammer their export business....... Konica Minolta Holdings Inc. (4902), a *Japanese maker of imaging equipment that gets 28 percent of its sales in Europe, dropped 2.6 percent.* Macquarie Group Ltd. (MQG) lost 3.5 percent amid concern full-year earnings may trail the Australian lender’s forecast. Shares of China Petroleum & Chemical Corp. may fall when the market opens in Hong Kong after Asia’s biggest refiner said it plans to sell shares worth HK$24 billion ($3.1 billion) at 9.5 percent below yesterday’s closing price. Japan has had their currency depreciate by almost 15% the past few months and still the economic numbers are struggling....... The Australian Homebuilding market has a glut and the homebuilders are forced to offer huge incentives... The SPX came very close to an outside reversal day today, the Nasdaq has had a 3 day topping reversal pattern look about it. Tech and financials have been lagging and the vast majority the interviewees on cnbc and bloomberg seem overly bullish...... the bullish sentiment at the Orlando Money conference last week seemed excessive. Everyone is pointing to the QE easing of the FED, BOJ, BOE , ECB etc....... bond yields going up is spun as a positive for equities. Crude is at 100 brent crude near 120........ The FED has to keep the long end of the bond market low or we go back into a global recession...... can the FED hold the long end of the bond market down forever? No. John

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