dont know bout chu, but Naz falling over the cliff
blame it on the Karachi bombing, but one has to step back
yes, step back and take stock of the situation
what is the excuse of the day for the Dow and Naz killings?
downgrades of biotech, of drugs
Intel warnings
entire telecom seemingly staving off bankruptcy
downgrades left and right, sector after sector
poor forward guidance by HomoDepot and many others
bankrupt companies
criminal indictments of CEO's
accounting scandals
false reporting of earnings
IPO pump and dump investigations
when will the investing public figure this out?
the problem is THE ENTIRE STOCK MARKET
the US economy is suffering from terrible DEFLATION
lost pricing power, eroding earnings, poor cash flow
the cash flow is serious enough to threaten debt structures
thus, bankruptcies
Naz is below critical support, slipping seriously
I predicted a while back: 1100 on Naz
this aint capitulation, this is instead deadly bleeding
nothing but hope is peddled nowadays
hope for: econ recovery, earnings growth, business spending, foreigners staying the course, the dollar holding, and the best... this is the final capitulation
what a joke, how desperate
pleased to see foreigners have the good sense NOT to hide safe haven into dollars and TBonds
GOLD is superior, the ultimate and most portable safe haven
I smell something different in the air
it is not FEAR
instead, it seems more like a combination of ignorant hope and informed distrust
much more deadly to stock markets
/ jim |
