New Home Sales Plunge to Lowest Level in 16 1/2 Years!!!! Markets are up again even after a bad housing number. What does that prove? No one cares about the housing. The big funds and money guys that move the markets know that there is no housing bubble except for a few regions and that the impact of a slowing housing market has a negligible impact on the US economy. Apple had great earnings and so did GOOG and AMZN. People are still spending, contrary to the boo ho hoo pro-Obama media and lefties who claim that the comsumer is tapped out due to soursourcing, rising gas, and falling home prices. Consumer spending is stronger than ever. Massive credit card spending. Tons of consumer debt. Markets WILL go higher McCain will be out next president and continue Bush's economic and military policies. Oil will go much higher and so will food, and the dollar will keep falling, which is very bullish for multinationals.
It's ALL about the DOLLAR you fools. Now trading under the 21-day MA for the first time since early February and working on an outside weekly reversal bar. (FXE)
I am with Landis, this is about the dollar for the moment. Next weeks FOMC meeting should be interesting. We could see a rally in equities if they dont cut.
wow market keeps surging..hardly any pause. Losers who sold or shorted on housing numbers must feel stupid.
You call this a post about getting "in"??? http://www.elitetrader.com/vb/showthread.php?s=&postid=1894355#post1894355