Posted on 09/20/2009 12:23:23 PM PDT by Steelfish
Stocks Due For Pullback — Perhaps This Week?
Investors will keep eye on Fed and reports on consumers and housing
NEW YORK - If the stock market's seemingly unstoppable march higher is to be believed, the economy is firmly on the road to recovery. Several key events on the economic calendar this week may help determine whether that conviction holds up.
Federal Reserve Chairman Ben Bernanke's prediction last week that the worst of the recession is "likely over" helped sustain the markets' gains, which brought the Standard & Poor's 500 index up 2.5 percent through Friday.
This week, the market will get to see what the rest of the Federal Reserve board's key committee thinks, when they hold a two-day meeting to decide whether to keep interest rates at their historically low levels of close to zero.
(Excerpt) Read more at msnbc.msn.com ...
Citigroup, Bank of America, Freddie Mac and Fannie Mae accounct for 40 % of all stock volume !!!!
Watch to see if they are even on there.
All 4 should be shut down. Citi and BAC sold off the the other two shut down for fraud.
We've come back some 40% since the bottom on 40% of the volume this time last year.
It's a total sham, pump-and-dump from the Big Boys like Goldman-Sachs and JPM (using taxpayer money via Stimulus and TARP).
I think they want 10K before they dump, though. So there will be another week of 2 steps up, 1 step back until they hit the magic number and dump everything.
By the way, last I read, insiders are SELLING 30:1. They know something is about to hit.
My prediction: commercial real estate will tank just before Christmas (holiday shopping). This will be synched with the Big Boys dumping their stocks to tank the market again. Obammie the Commie and his Eichman’s will demand another stimulus because “retail is too big to fail.”
It will be time for the state run media you dust off the old carnard “its all Bush’s fault”.
Bookmark
There is a record amount of Treasuries coming to Auction starting on Tuesday and ending on Thursday. “They” will tank the market, ramp the dollar, kick gold and oil to the curb, in an effort to scare money into the “Safehaven” Bonds. Lather, Rinse, repeat.
Pay no attention to the man behind the curtain...It’s only Ben Bernanke.
I always thought these were fake gains and the people doing it would get out then the stocks would tank. I wonder how many times they can get away with it.
Do you have the sources for your information on insider selling?
I'm not trying to be a wise guy, your scenario for December crash sounds very plausible, given the slimeballs that are running the show.
P/S Great Tag Line!!
I just can't get used to the hopey changey America thing.
To many exogenous events on the Horizon with a Marxist neophyte at the helm who IMHO has never taken an accounting or any econ course to be doing what he is doing.
My confidence meter is on zero, no pun intended....
Thanks for the info....looks like the game plan is set. Run the market up for a couple of months, get the suckers buying again, then stick it to’em.
Yo gitmogrunt, there have been murmerings for weeks that something bad is gonna happen in October. We can quibble whether it may actually happen in November or December.
Bernacke has provided to tangible evidence to support his Alice in Wonderland claims. As for proof in the other direction you simply have to believe what you’re seeing with your own eyes.
Unemployment rate has not abated one iota. Moreover, the seasonal employment numbers will only be known in October. They can seasonally adjust all they want, but those people will just as unemployed as nonseasonal workers. And they’ll be making unemployment claims.
Housing is still in the toilet and is likely to remain so for the foreseeable future. Foreclosure rate, like unemployment, has not abated. And oh by the way, a jobless recover is an oxymoron. If people aren’t working they can’t by things.
Here’s a good indicator for you. US demand for electricity has declined 20% since about August last year. The electric generation industry expects at least another 10% drop over the next 8-12 months. My son works for a power generation company and they’re doing an analysis to see whether moth balling plants or operating them at minimum capacity is most cost effective. These are people making business analysis not make a wish political analysis.
Oh, and did I tell you about that armada of freighters riding high in the South China Sea. The picture I saw looked very much like the D-Day invasion fleet. There are literally thouands of them sitting there with no cargo and no place to go.
Only if they and the speculators think they have rounded up enough fools to have a shearing.
Luckily it looks like most citizens are smart enough to stay out of the mess (stocks) for now, although we will again be left holding the bag, that is if there is anything left...
Everyone might want to join up with some like minded citizens to prepare for the aftermath:
Alarm and Muster – The document that started a movement.
Alarm and Muster – The Modern Day Call Tree for Emergency Preparation.
You are right on the money. Commercial real estate loans typically need to be refinanced every 5-7 years. In many states big properties are totally upside down. This is starting to hit now and it will be a bloodbath. Here's an example:
Here's another:
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