Five weeks ago, Goldman said oil was going to $85. It's now at $62.
And it was just one week ago, that Goldman Sachs was saying that Russia's economy "has reached or is rapidly approaching its turning point."
Supposedly Russia's improvement was coming from the increase in oil prices. As Austin Powers said to Alotta Fagina, "Come again?"
Now three weeks ago, Goldman upgraded China's growth estimates--GDP estimates went to 8.3% from 6%. Goldman, I'm sure, can assure the world that China's numbers are real. And that they are as accurate as China's death count in the Uighurs riots. Now we know China wants to hire 10 million more housekeepers to reduce the 40 million unemployed in China. I guess they are going to clean the empty buildings. I suppose that's better than rioting, as China's Hu Jintao can't even stay at a G8 meeting because of sectarian unrest.
So should we sell China? Sell it to Goldman, just like oil should of been sold to Goldman when they touted it to $85. China was down 2% in early morning trading, and then rallied to close up. The invisible hand of support shows up.
I don't buy it.
And it's time for some of the hot money to leave the building.
And make some room for the housekeepers.
7 comments:
Amazon.com upgraded by Susquehanna Financial -- so sorry for your short in AMZN. Or did you already closed it for 2x gains?
Yeh--on "low expectations." I, however appreciate your "sincerity" and concern.
And your low expectations.
i am being too harsh - you hurt my feelings all those times you made fun of bears :-)
but the amzn's main business is not kindle anyway so considering that internet takes more and more share from regular stores - amzn is positioned well. their PE is 49 too high but the forward pe is "only" 39. Plus they have cash in the bank and positive cash flow. what else would someone look for when considering where to invest right now?
All that is true, but AMZN is just a proxy for momentum. 78.77 and I'll be stopped out.
Market seems to be making a stand at 880. The muffin market again.
Where else would someone invest than a high teens grower sporting a forward multiple of 'only' 39?
Anywhere!
I'm not a bear, but with metrics like that, amzn will be lucky to break 90 in five years, if all goes well for them. Any good news is well in the stock.
Where else would someone invest than a high teens grower sporting a forward multiple of 'only' 39?
Anywhere!
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reheheheheally? You mean in banks, homies, cyclicals, commercial real estate? Good luck with your investing "anywhere"!
reheheheheally? You mean in banks, homies, cyclicals, commercial real estate? Good luck with your investing "anywhere"!
I'm not in any of those, but i guess i did say 'anywhere'. I'd still take any of the above over amzn over the next 3-5 yrs though.
It all depends on your timeframe.
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