Wednesday, August 11, 2010
Bring 'em out now!!
Here's that story:
The Dow, which now stands at 9,686.48, is likely to fall well below 1,000 over perhaps five or six years as a grand market cycle comes to an end, he said. That unraveling, combined with a depression and deflation, will make anyone holding cash “extremely grateful for their prudence.”
So the Fed downgrades its outlook, and companies like Disney, that beat get sold. But Disney really didn't have such a big beat. If you back out the .05 deferral (with 226 million/revenue earnings were .62.--- ESPN ad revenue was up 31%) but Disney's quarter was still absolutely terrific.
So Wall Street sells the name, so they can try and turn psychology. It's after all, their own Mickey Mouse playbook. If you sell DIS, then you can sell CSCO, because John Chambers, will always have something good to say. But its time to embolden the bears. So where is the Prechter story? Oh--wait--Oh My! It's here already--so the market can discount it!!
So that's the Mickey Mouse playbook, on Wall Street, which is wrong. But if you want to believe it, go ahead!
Because Rosie is already starting!!
Posted by Palmoni at 10:19 AM