Housing prices are still falling.
Americans are spending on NOTHING, which means the primary demand engine of the world remains off. Recovery this time around will NOT be based on Americans buying 'Margarita machines' made in Malaysia or anywhere else.
Today...
and...World stock markets soared Thursday, with Hong Kong's benchmark vaulting more than 7 percent, as stronger-than-expected U.S. economic figures boosted confidence the world's largest economy is on the mend.
Huge gains in Asia and a strong open in Europe followed an overnight surge on Wall Street and extended last month's rebound in world equity markets amid tentative signs of stabilization in the hard-hit global economy and banking industry. It came as Group of 20 leaders met in London for a summit that aims to hammer out policies to combat the economic slump and reform the global financial system.
Stocks extended gains on Thursday after data showed factory orders rose in February, fueling optimism the economy was showing signs of stabilization.The data added on to earlier gains spurred by optimism G20 leaders meeting in London will agree on ways to temper the global economic crisis.
U.S. accounting rule-makers agreed to make adjustments to a proposal to change mark-to-market accounting rules about when transactions would be considered distressed.
So... we have a surge based on one reading of factory orders, one time, and emotional optimism based on G20 leaders not shooting each other? And we redefined what "bad" means? 150 days instead of 90, maybe?
Am I wrong?
What's our balance of payments?
How much are we exporting?
What are we producing?
Maybe these guys have a flock of predictor chickens
3 comments:
"G20 leaders not shooting each other"
yet
Also consider the price of fuel at the pumps is inching it's way up again . . .despite Crude oil below 50$/b AND crude supplies -- already 12 percent above the five-year average level -- probably grew by 3.5 million barrels." In other words supplies will increase – a bearish scenario for crude.
In fact, supplies are growing so quickly that storage facilities are brimming with more oil than they've had in 16 years. Combined with the strategic petroleum reserve, the nation now has 1.05 billion barrels of oil in storage.
The market is being manipulated . . .again.
Simple bear market rally. The market had to go up after such an oversold position.
EPA and I agree that we could see another big drop from here. I think 5800, others thinks 4000. EPA thinks 2800 - OUCH !
New Bull market of just a Bear trap.
We'll see.
Post a Comment