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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: ecrire who wrote (23896)8/20/2011 11:24:19 AM
From: fred woodall2 Recommendations  Read Replies (2) | Respond to of 222045
 
We had positive news on delinquencies Friday. Besides printing, (destroy the dollar and open up a hornets’ nest of political and social unrest) where would that tidbit of good news come from in a consumer driven economy? QE3 will destroy us but I suppose that is the goal.

Being a forward indicator I do notice this market closes down at or near its low every down day. With the daily charts now bearish there is no hurry to start buying and with that approach who cares where the bottom is? Start buying on the way up.



To: ecrire who wrote (23896)8/21/2011 5:49:47 PM
From: Wayners  Respond to of 222045
 
I think you're right and here is why. The Govt recently revised down the GDP of the first half of 2011 to something like .8% annualized. Terrible GDP number for sure, but notice how company earnings were still very good even though the overall economy teetered on recession? If earnings are still very good for no growth, why should stock prices go down if say the second half of the year goes into recession of say -.3% annualized? Why should the markets sell off for that?


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