I don't like it when these guys compare the S&P of 1929 to todays market. The market has a mind of its own (meaning the factors influencing the market are not identical), and the two really can't be compared.
Having said that, I do necessarily agree with Obama in that the 'fire is out'.
Alot of the companies putting out decent Q2 results, are doing so on the backs of all of the payroll that they shed.
The unemployed are also consumers, and the unemployed don't exactly go on buying frenzies. So I am curious to see the Q3 numbers, when they come out.
Also, Canada seems to be the only place in the world that hasn't realized that housing is overpriced. Perhaps the lowest mortgage rates in several generations will do that.
I am doubtful that the markets will go up another 30% in another 3 months, and wouldn't be surprised if they were to fall another 30%.
At best we may have a few years of spinning tires to get some traction. Which really wouldn't be that bad.
But then again, I am just a lowly rookie...and this is just my humble opinion at this time.
Having said that, I do necessarily agree with Obama in that the 'fire is out'.
Alot of the companies putting out decent Q2 results, are doing so on the backs of all of the payroll that they shed.
The unemployed are also consumers, and the unemployed don't exactly go on buying frenzies. So I am curious to see the Q3 numbers, when they come out.
Also, Canada seems to be the only place in the world that hasn't realized that housing is overpriced. Perhaps the lowest mortgage rates in several generations will do that.
I am doubtful that the markets will go up another 30% in another 3 months, and wouldn't be surprised if they were to fall another 30%.
At best we may have a few years of spinning tires to get some traction. Which really wouldn't be that bad.
But then again, I am just a lowly rookie...and this is just my humble opinion at this time.
