Consumers are dead. Nordstroms located at "Fashion Show Mall" in Las Vegas was running one of their biggest annual sales this weekend. Store was totally dead and sales personnel informed us they had never seen it this bad. If a Nordie's sale won't bring out the consumers, nothing will...at least for the discretionary spenders.
rally needs nothing but willing buyers of stock.. new money ..ponzi style.. it is not based on truth or reality, it is nothing but a market for stock...that is all it is, not a predictor, not an indicator or foward looking or any other bullshit they tell us, it is just a market where buyers and sellers meet.. as long as there are buyers and sellers it can go up forever...if this is not true, then when the economy drops why does gold go up? if it was an asset one would think that the better the so called economy the more one can afford to pay, the worse the economy the less they will pay..as long as buyers can be convinced that we are at the lows and on the way up soon, they will keep buying in the hope of, like you and i to get rich..err...get even. it is no mystery, the like you want to make money.. they are neither dumb or idiots, not more than you and i,.. that is what is driving the markets..