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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: Salt'n'Peppa	5/19/2009 9:46:59 AM
	3 Recommendations Read Replies (2) of 206330

At the risk of sounding too negative again, just look at the spin on this latest US news. The markets rallied hugely yesterday on "positive" news from Lowe's, Home Depot and homebuilder's sentiment. ca.news.finance.yahoo.com Turns out that the homebuilder's sentiment went up two points on their scale of 0-100, from 14 to 16! Anything under 50 is considered to be negative sentiment. Hardly rally-worthy, IMO. ca.news.finance.yahoo.com Home Depot beat estimates, but what the headlines don't tell you is that this is largely due to savings from closing down one division of showcase stores, and from sales in new stores. Same store sales actually dropped 10% YOY. Again, hardly rally-worthy, IMO. Anyway, there we have it. I continue to believe that all current spin is lead by the big brokerages (or are they investment banks now?) as they sell into the top of this 2 month rally. Is this a monster shorting opportunity? Of course I could be, and usually am, wrong! S&P

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