Chinese “Growth”
Here are some interesting quotes from this paper from the American Enterprise Institute:
“As of June, China’s exports were declining rapidly, at a year-over-year rate of 21.2 percent.”
“…state-owned enterprises and other recipients of stimulus funds have purchased stocks themselves rather than leaving funds idle until they can be disbursed for actual projects and have already been counted in GDP data as having been undertaken.”
“Many of the households that purchased washing machines, or were virtually given such machines, have found them unusable because their homes lack either the running water or electricity (or both) necessary to make use of a modern appliance.”
george for the debt clock thanks JG instead
Yes SD unfortunately and out of 2000 stocks only 650 were tested it seems. so almost 90 seconds a stock? now i ran some other random tests and YUCK. I wish I wish with all my heart that my next system in Tradestation. i’m a third of the way there in terms of $$ saved up to start at tradestation. going back to school means no stream of 40hrs income so 3 more years it seems until my wish comes true
K,
Thanks for the picture. However, there is nothing like seeing it for yourself in binoculars. Of course Jupiter will still be a dot in the binos unlike the disk that you captured in your telescope.
Hank,
I took that picture through my telescope lol.
Live is breathtaking but when it’s cloudy you need a rainy day pic haha
Just timed the clock… U.S. debt increases roughly 2.3-2.4 MILLION dollars per MINUTE. Staggering.
Yerk… looks like a great GS post. Thanks. Will try to look at it tomorrow.
George, great rant by Ty Andros. He is only missing to tie Homeland Security and WMD in. Paulson was the next to use shock and awe tactics for lowly purposes. Why should something better emerge from it this time? It is always the same pattern: A set-up for a crisis is created, during the crisis unalert independents are bullied into accepting terms the would never accept if there were not a “crisis” and then the spoils are reaped. A constant crisis is needed to feed the machine, so you can be sure the next war will come and it will solve nothing as it is not fought for a real purpose. This war against terrorism eg the disenfranchising of the own populace is now perfected by the war against the financial crisis eg the reallocation of wealth away from the populace. Democracies cannot be based on a disenfranchised and destitute citizenry. Rant over.
You mentioned the monthly pointing up to potentially lead the market higher. I had a look at 2002/03 – the monthly now looks like early 2002 so it still can be turned lower. I don’t see the case for a sustained, longer term move higher (so I’ll ignore all timeframes not fitting with my notion – like K applies his systems).
junglegirl, thanks. The oracle says min target dow tick in the box, dax just below – maybe Monday. Don’t go long, crash impending. Alternate: dow higher, +10K still possible in topping process during next month.
I have yet to make up my mind whether the reversal on Friday is ST or IT. Leaning towards IT, but the dax didn’t make it on Friday. I hate conflicting signals
Yerk, Oslo didn’t buy that employment report too much either. But that was maybe because of the USD move.
Let’s see Asia tomorrow. Shanghai and Baltic Dry have been heading south lately.
China has been BAAAAD!! Getting punished
– A typhoon slammed into China’s eastern coast Sunday, forcing the evacuation of nearly a million people after earlier lashing Taiwan with torrential rains that caused the island’s worst flooding in 50 years and left dozens missing and feared dead.
we have almost 12hrs to speculate how this might affect the markets
http://www.narrowbandimaging.com/incoming/bbc_building_collapse.MOV
George,
If you have an extra $3K and want to learn
the only wave analysis that I know of that
works, google…wolfe wave…click on site…
review entire site. Grandfather used wolfe wave
…but Mother was raising 2 brats and needed
a real simple plan. One of Grandfather’s friends
taught her the intermediate term trend trade
plan. Julia and I use that plan, but before she
left for Australia Julia was going over Grandfather’s
material on the wolfe wave.
it’s sunday. I had a thinkorswim problem.
Emailed support at 1:02PM. got reply back 1:14PM with a solution.
that is what I call Customer Service
Yerk, thanks for the oracle update. I agree with him. The broadening pattern remains valid with either scenario, so the party is winding down.
George,
Two people left the bus Friday. I just checked
the CBOE equity put/call ratio. It went to 0.49
on Friday…a topping number. In a normal
market we would see a correction start within
2 trading days. But we have what I call a smoke
and mirror market…and we just play the tape.
Hope all is well with your recovery and you are
enjoying a great weekend.