MtMan, yes I did see INTC/CNBC while donning the sox, trow
I snickered at the seeming desperation
I will bet you $10 that Dow close at least minus 50 pts
actually I believe it will accelerate losses this afternoon
fear is gripping Wall Street, Mike
on the Sept2000 INTC jump, got some thoughts
back then, we were in a totally different environment
the Bond Inverted Yield Curve was not legible to stock players
THEY DONT KNOW HOW TO READ, STOCK PLAYERS ARE ILLITERATE
the inverted yield curve forecast a recession by mid-2001
it was exactly right
(Volt, pay attention here, put down the golf clubs)
but stock players thought...
"end of bad news, resumed recovery, buy the climax of bad like kneejerk"
they were clueless then, but are less clueless now
now we have the stock market, esp tech stocks, in different mode
THEY ARE DESCENDING THE WALL OF HOPE
the Intel news puts to rest hopes of any 2nd Half Recovery
this renewed annual belief goes counter to all reality
each year, a new 2nd Half Recovery set of hopes
soon they will conclude what the pros conclude...
structural bear correction, akin to Great Depression
THE DOLLAR DECLINE CONFIRMS THE SECULAR BEAR MARKET IN STOCKS
I honestly think we are seeing a wounded man being shot with numerous small arrows repeatedly
Intel follows HomoDepot poor guidance
even Microsoft offered no encouragement
has anyone noticed that only Hack Economists offer encouragement
and I am sorry to say that Sir Lawrence Kudlow is a hack
he is consistently misreading every signal out there
he ignores the dollar and gold loud screaming signals
today he said wages are down, productivity is up, so profit margins are on the rise, very bullish for stocks
this is too little, too late, with the dollar tide going out
not to mention debt at crushing levels
dont worry, this Intel news is yet another arrow
I think an arrow right in the neck
/ jim |
