Reading Between The Lines
Since the March lows, the market has witnessed a dead cat bounce or head fake, and its all based on mirages.
With corporate America stuck in its seventh straight quarter of earnings decreases, the longest in seven decades,
the SP500 has climbed 28% from a 12-year low on March 9... in 33 trading days, the sharpest rally since the 1930s,...
meanwhile CEOs, directors and senior officers at U.S. companies sold $353 million of equities this month, or 8.3 times more than they bought.
That’s the fastest rate of selling since October 2007, when U.S. stocks peaked and the 17-month bear market that wiped out more than half the market value of U.S. companies began.
The $42.5 million in insider purchases through April 20 would represent the smallest amount for a full month since July 1992, data going back more than 20 years show.
The Nattering One muses... we are about to check another reality check...
As the Emperor Sith said in Star Wars VI... Young Master Skywalker, we have a little surprise planned for your rebel alliance friends...
If you think the recovery is under way or help is on the way, you are grossly mistaken... pity about your poor rebel friends...
as they will soon be crushed by double digit unemployment, a massive 3rd round of foreclosures...
bank failures, personal and corporate BK's, bailouts and the next wave down in the stock market (starting Monday?).
You don't deconstruct a durable economy for 25 years by outsourcing to labor at the margin under the guise of globalization...
and expect the decimated house of cards to recover miraculously in a year or two.
Again, in our best Yoda, only just starting on our journey to the dark side are we...
With corporate America stuck in its seventh straight quarter of earnings decreases, the longest in seven decades,
the SP500 has climbed 28% from a 12-year low on March 9... in 33 trading days, the sharpest rally since the 1930s,...
meanwhile CEOs, directors and senior officers at U.S. companies sold $353 million of equities this month, or 8.3 times more than they bought.
That’s the fastest rate of selling since October 2007, when U.S. stocks peaked and the 17-month bear market that wiped out more than half the market value of U.S. companies began.
The $42.5 million in insider purchases through April 20 would represent the smallest amount for a full month since July 1992, data going back more than 20 years show.
The Nattering One muses... we are about to check another reality check...
As the Emperor Sith said in Star Wars VI... Young Master Skywalker, we have a little surprise planned for your rebel alliance friends...
If you think the recovery is under way or help is on the way, you are grossly mistaken... pity about your poor rebel friends...
as they will soon be crushed by double digit unemployment, a massive 3rd round of foreclosures...
bank failures, personal and corporate BK's, bailouts and the next wave down in the stock market (starting Monday?).
You don't deconstruct a durable economy for 25 years by outsourcing to labor at the margin under the guise of globalization...
and expect the decimated house of cards to recover miraculously in a year or two.
Again, in our best Yoda, only just starting on our journey to the dark side are we...
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