Jay,
being equally clueless, I wonder if I could get an invite to that dinner next year? In fact, Jockey Club or Kowloon club would be OK also. Actually, I would settle for a goose at Yun Kee.
Anyway, I have been trying to be totally objective and check out the signals, the ones that are supported by some data:
Consumer sentiments. No signs of capitulation there, isn't that a bearish indicator?
New home sales. New home sales supposedly report ORDERS, not closings. The numbers had been relatively strong month after month, this is very bullish.
Home resales. Numbers are strong, bullish.
Refinances. This not only put money into consumers pockets, together with home prices, they probably created a much more substantial wealth effect than the dotcom driven wealth effect Greenspan mumbled about a couple of years ago. Now that is finally slowing down, is the market going to go down with it?
Japan. Japan is going to "crash", but is that good or bad? Would somebody who knows FOR SURE please let me know.
So is that enough cluelessness for one of those cubans?
Ramsey
PS Maurice, I never said nothing about rosey, wallet may be, but not rosey. |
