The initial reaction to the housing numbers was an abrupt 40 point selloff on the dow and that was it. The market began to move higher an hour later. If housing was such a big deal the market would be deep in the red, but it obviously isn't. For the past 2 years housing data has had almost no affect on the market because everyone knows it isn't a big deal except pro-obama leftist liberals and perma bears. The money guys who move wallstreet know that housing numbers aren't that important. We're still in the new era of hyper capitalism, spendism ,comsumerism, smartism, web 2.0. No bear maket. No re recession.
Markets always go up before they go down hard just like they always go down hard before they spring back up. Markets dont move in a straight line for an extended period of time. With the FEDs involvement, the markets are retracing some of their long sustained downmove. Nothing abnormal here. But if you think for one minute that consumers are going to continue to spend at the rate they have been in the last 8 years, you are nuts. Frist off, if you max out credit and cant get new cards, cant pay down your existing cards, cant afford to pay your mortgage, can barely afford gas, are struggling to come to grips with why food is so damn expensive now, how in the world are people going to continue to spend spend spend??? Did everyone suddely get a raise at their jobs to afford all this?? No! In fact, people are LOSING jobs. Do the math. Where is the sustained growth going to come from? Explain where people are going to get the money to be super consumers again??
Your command of BASIC Economics is absurd. Leave it to you to think that a global commodity such as crude oil can be "controlled" by the Fed, and that there is a direct and quantifiable link between the FED arranging for temporary REPURCHASE agreements for the banking sector ( the greatest duration of which is 28 days ) and the price of crude oil. Thank you once again for showing everyone here on ET just how ignorant you are.
And who are you? I can't seem to recall you credentials. You spend a lot of time here so I assume youâre not too professional. So spit is out, for all we know youâre a paper trader.
Were you scared to come out. Did you call Makloda first and ask him to say something positve in your favor hahaha. Your making no since as you create an argument out of nothing.
You mean like YOU??? http://www.elitetrader.com/vb/showthread.php?s=&threadid=124977&perpage=6&highlight=es&pagenumber=1 :eek:
Apparently you can also use a course in English Grammar & Writing to go along with a basic course in Economics. Have you even made it past the 6th grade yet?