Wednesday, September 3, 2008

Seeing some bottoms!

In autos:

"There are early indications of somewhat improving conditions," said Ford Motor Co. economist Ellen Hughes-Cromwick, in a conference call with analysts and reporters. She pointed to a decline of about 40 cents a gallon in the price of gasoline, improvement in a key measure of consumer confidence and an upward revision in the federal government's estimate of second-quarter economic growth.

In a separate conference call, General Motors Corp. executives said they are seeing signs that the industry is "at or near the bottom." The consumer "is feeling better," said Michael DiGiovanni, GM's top sales analyst.

In housing:

Home Depot Inc's chief executive said a battered U.S. housing market was nearing the bottom of its decline, but the home-improvement sector would remain under pressure at least through early 2009.

"We don't think we're at the bottom yet, but we think you can see it from here," Frank Blake told a Goldman Sachs retail conference on Wednesday, that was available by webcast.

We even have an Implode-a-Meter for hedge funds!

Now we can see the bottom in housing and in auto's and it's completely plain that the bottom in the financials have bypassed almost everybody on the street. Now at least we have pundits after the fact saying that July 15 was the bottom. I gave you that bottom on that exact day!

Goldman declares the bottom in the euro after it has already made a once in a lifetime move.

Now the bottom at the top of the page is that of Gisele Bundchen. I just wanted readers to remember that back in November she said she wanted to be paid in Euro's.

According to Wall Street she was the "indicator' for the top in the euro. It didn't happen until eight months later. Which means that on the anniversary of the Bear Stearns implosion, on March 15, 2009, Wall Street will finally get bullish. Eight months after the July 15 market low!

We have a bottom but the bears don't see it. They keep attaching strings to it!

But at least Wall Street can recognize hers!

It tells you what type of homework they do at night!

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