my favorite illusion performed by the fed magicians - "we will now attempt to pull the table away from the meal without spilling the fine china and dinner all over the place " (notice I said table and not table cloth)
Can Bernake the magificent pull it off - or will he look like Jethro the magnificent and get milk all over his face - and pop the bubble single handedly- stay tuned - this could be fun
And i love the wonderful smoke and mirror job being pulled off by AIG's CEO - what a beauty that is - 180 BB in Govt money could not be paid back in 60 yrs !!!! what a farce but look at the stock price - from pennies to 34!!!! wheeeeeee - the illusion has become reality - but for how long!!!!
(I rest my case that fund managers are lemmings - but they have driven this market up on a feeding frenzy unseen in many years - when does the elastic pop in this fragile balloon is the ultimate question!!!!
1- People are still losing jobs and are either under employed with many who have quit looking for work - therefore the jobless rates don not tell the whole story - therefore people have much less money to spend at the retail level - where will the revenue come from - more cost cutting???
Do wall street analysts say this - NO not directly because they have to generate business for their firms
2- People have lost equity in their homes in alarming amounts along with Debt they have amassed over the years - (i know I have lost about 25% in my home equity - it doesnt make me want to go out and blow money on a bunch on nice things right now - been shoping at Walmart more to save costs - and eat in a lot more than i used too)
Does not paint a very favorable picture going forward for retail stocks - but they keep going up right now - so i'm long
i bought em at 18 sold em around 26 - this is my second buy - just because they wont go down right now - i guess we'll see what happens soon
The illusion and hype is what stocks gains are all about - the hate what I see - but have made good gains off of it - the key is to buy the hype/dung/crap and sell the reality - when does the reality sink in to "fund manager lemmings" that things AINT so good - and people really dont have money to drive revenues and earnings higher - and the cos have cut expenses as far as they can to drive it - a bubble in retail stocks is building - but i'm still long - will take profits soon but not today!!!
The wall street fantasy game is crazy - the hard part is buying what you hate!!!!
I bought 1000 at 30.90 2 days ago - im up a little - my stop is at 29.40 (about 5% down) - if it hasnt gone down on the latest earnings (or lack of earnings) news - it might not go down!!!!
(just one persons opinion - which may or may not be wrong) good luck to all