Enough already! Here's Bernanke's op-ed in the WSJ on the Fed's exit strategy.So now Wall Street has a new definition of courage, versus the one we have from China.
And only on Wall Street, is the Chinese version of courage better!
Enough already! Here's Bernanke's op-ed in the WSJ on the Fed's exit strategy.
4 comments:
is that bernanke in the first picture? looks like him.. he need to trim his beard more often..
Palmoni, dont you think we're approaching a correction, maybe 5% or so..?
No--The rally was too strong last week. Everyone thinks we'll roll over here. At 10:45 I was on a conference call where I was given all these elegant reasons why we'll roll over.
They sounded good, but it will be wrong. Now this move is going to be in the industrials. Look at ETN yesterday, and CAT today. CAT's conference call wasn't really good, but they sold it down to 38.05, and then it bounced back--Look at the action in ETN.
IP in paperboard was upgraded today by DB I think, and they admitted that they were too good at cost cutting. So brown paper, which was strong, now needs to shift to white paper!
Bears wiill look at UTX as a harbringer since they said they don't see a recovery until late 2010. That's because they are in aerospace, which still lags, but those stocks need to be bought now, and everyone at UTX is too interested in the former Chairman's salacious divorce trial with his wife to get back to work.
First growth comes from cost cutting. Next growth comes from increased sales, and then the weaker dollar. And then we throw in growth in the US and we ramp to new highs next year, even though growth is tepid.
And if we go to 1400+ on the S&P, is there any chance that we'll get a pullback after we already had one in two months, and made it all back in a week?
That's not a bet I want to make.
So I just don't see the pullback, even though we are supposedly at the point where the bears are ready to puke, and the bulls are so giddy they don't know what to think.
Besides the pros, I don't think anybody is in!
And they won't let them!
Even though i trade non-U.S stocks somewhere far away, i follow your blog intently. Your call on oil at 59 for ex, helped me time my entry before a nice up move.
Many thanks, and good luck.
Thanks. I appreciate it.
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