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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: ggersh who wrote (29159)	7/1/2010 4:59:06 AM
From: RockyBalboa	5 Recommendations Read Replies (1) \| Respond to of 71412

Well the stocks closed fugly. The downspike of May has been reached in a not oversold condition. Meaning more downside and we clearly test 9000 in the DJ. Just my opinion but I am not buying anything in summer. The fictituous profit growth of S&P companies which had been a result of the devalued dollar are over, and this is being baked slowly into the stock indices. EUR 1.22, GBP 1.49s, this should translate into DJ at 8000, imo. Many bad news are simply withheld. BP is not ready and a bloody market wants to see "capitulation" with the stock < 20. We have not seen capitulation yet. GS not fully devalued and loss of reputation and clients not shown in revenues and profit yet. Bankruptcies in Spain just beginning. The austerity packages in Europe will impair growth.