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PCTEL, Inc. Message Board

  • captdeployed captdeployed May 10, 2013 2:45 PM Flag

    mkt up again

    funny however, is that nearly all the stocks i follow are down, except mcz...oh the irony there. anyway, the mkt breadth to push the rally def seems to be declining.

    i think any correction catalyst comes from a bank failure in one of the piigs, over a weekend. everybody expects it to be the fed hinting at a qe end, not gonna happen. fed in too deep and they know the mkt will get very volatile once that happens. methinks, euro banking crisis is catalyst and fed uses other global problems as a shield to withdraw qe w/o taking any blame for equity bubble...all the while they say US economy is improving.

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    • I'm running out of stuff to sell as the market goes higher while the macro-econ data gets worse. Today's weak data included soft:
      1)industrial production
      2)Empire Index
      3)MBA Index
      4)Housing Market index was up m/m but still soft at 44-lumber prices continue to fall
      5)Eurozone continues recession
      6)China GDP growth estimates downgraded

      Seems to me the current stock market is similar to real estate back in 2006-a mania. A #$%$" of the bubble is all it will take. In essence, bond and other income seeking money has been buying stocks. Once the downturn starts and the % losses exceed the dividend yields, then selling will beget selling and a 10% sell off will happen quickly.

 
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