Wednesday, August 25, 2010
Market Watching
wtf
[Gluskin Sheff economist David Rosenberg] calls current economic conditions “a depression, and not just some garden-variety recession,” ...
The 1929-33 recession saw six quarterly bounces in GDP with an average gain of 8 percent, sending the stock market to a 50 percent rally in early 1930 as investors thought the worst had passed.
The Hindenburg Omen... a technical indicator which uses a plethora of data to foreshadow a stock-market crash, was tripped again on Friday, marking the second time since Aug. 12 it has occurred. (It also came close on Thursday, but one of its criteria fell short.) ...
The latest trigger has prompted the Omen’s creator, Jim Miekka, to exit the market. ... “With what we have now, I think it’s possible we could get a 20% decline going into the fall,” Miekka said. “But I would expect some type of selloff and be buying at a lower price.”
So what’re we seeing, here? August doldrums? Bad economic reports? Hedgies at play? A dip to recover from before November?
Random Imagry: an old pop engine [w/ the flywheel] vs a “modern” engine with ‘puter chips, catalytic converters, restraints, governors, bells, whistles, bows, and a coffe maker…
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