Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Lee Lichterman III who wrote (5324)	4/8/2001 12:22:45 PM
From: XBrit	Read Replies (1) of 52237

The unemployment numbers got all the press on Friday because they're easier to sensationalize. But the consumer credit numbers are MORE chilling in their own way. Here's another reason to short-and-hold the Dow. dismal.com "All the strength came in the revolving category. Credit card debt surged at a nearly 20% annualized pace. This is the fastest pace of growth since December 1995 and followed double-digit annualized growth in January... It is reasonable to surmise that many households are ... drawing down their credit lines to make ends meet in the face of rising layoffs and falling hours worked ... Thus some segments of the population may be in more financial trouble than a casual glance at the aggregate statistics might indicate ... Such households may have to pull back on spending in coming months. In this case, the surge in borrowing today may be a harbinger of much weaker spending ... in the coming months."

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