Okay, new housing sales data won't lift us. Maybe Hank Paulson and his speech will do the tick (/sarcasm).
There are some greedy ass people in the world. I'm not going to delve into the details, but there is definitely a concerted effort to slam these markets down, and it will probably work. You can't fight the powers that be. Just take care of what's most important to you. You're going to see economic pandemonium reported in the financial and mass press over the course of the next month. If you think it's started, just wait.
I have been noticing this too. Like the story posted about the FDIC hiring more people to handle bank failures. The data that the FDIC was expecting more failures is over a month old but by regurgitating the same data and adding in that more jobs were created only serves to re-stimulate the panic. The media could have chosen to spin it so that "the FDIC is creating 130+ new jobs" to stimulate growth but they didn't. Why? I personally think the media loves fear, b/c fear, panic, doom and gloom generate better ratings than good news.
The news moves in waves between "everything will be OK now" to "we are doomed". Someone is working the market up and down. Wall St desks operate with size in a narrow window of near certainty.
Not specifics. I'm relying on things that I absolutely believe to be true, but I can't guarantee it. It's akin to a jigsaw puzzle, with moving pieces, and when they all start to move in sync, and fall into place, you have the aha moment, go back and look at some past watershed moments, and you gain a tremendous amount of confidence that what you now see is truth. If you can read between the lines, and don't mind doing a little intellectual heavy lifting, an op/ed piece in Bloomberg by Michael Lewis today should get you reasonably in the zone.
I am fairly confident this is the last opportunity to sell on what are undoubtedly short covering rallies. We're likely headed to 1145 on the S&P, and we'll most likely get there by sometime around the June to July period. Commodity stocks will be beaten like a red headed stepchild.
Excellent Commentary ......................................................................................... You are 1000% on it.... And maybe on the high side..... Money does not like severe surprise..... Trading is the name of the game..... Holding is for ......... I will let you finish that one......