Recession???
I'm beginning to wonder how deep and how bad. Three markets had help wanted signs up today, several stores in the mall ditto, and the Dow Transport Index hit an all time high last Friday. Dow Theory, which I think is really accurate, tells us that when transports are up it means goods are moving because somebody somewhere is buying. Remember, the media has a vested interest in bad times because they are good for Democrats.
4/24/2008
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3 comments:
Howard, really?
Oh, c'mon, you've been whining about a bad economy for a while now, constantly using Big Picture as a source (if you're gonna use it so much why not just import every post there?), and you talk about every development as it if were obvious from the start. Pick a goddamned point of view and freaking stick with it or you're just another opportunist.
Apologies for the chip on this blogger's shoulder. But I think you get what I'm saying here.
I remember once driving from Chicago to Detroit on I-94 in the trough of the 2000 recession, and passing a solid line of full semi-trailers -- I mean, the line stretched unbroken for about 30 miles in the right lane.
Turned to The Mrs. and said, "The economy can't be that bad, when so much stuff is on the road to somewhere."
I was right then, and you're right now.
A consistent POV about markets is the sure sign of a moron. Things change. Daily. If you keep your eyes closed to events you are dead. As far as this post goes, just remember the advice of one of the best stock pickers ever, Peter Lynch, who advised everyone to look at the store you own stock in and if it's empty sell the stock no matter the news. Today the U.S. may have shot at an Iranian ship; this changes the oil situation on the spot. Etc. etc. etc. Information moves markets; to stay unaware that "help wanted" signs abound in markets and malls here in SoCal is about as dumb as one could get.
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