The Great Depression Starts Today

Quote from Pa(b)st Prime:

Well I'd certainly call this stealth 10% decline in energy the past week as "smoked". Or look at a Silver chart. As is every Grain, metal, energy and Meat is lower on the day. This all on an up day in stocks.
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I only see Gold, Silver, Oil pulled back 5-10% from new highs. Aluminum at a major support level. Coal, Steel fine. Sure, meat down, grain totally blah. Only see natural gas getting 'smoked'.

Keep in mind I am short UNG and own DUG, but see most commodities pulling back from highs.
 
Quote from Pa(b)st Prime:

The world has turned.

Commodities and big name tech getting smoked.

The Dollar (I shorted Euro's last night) has made a bottom. The rally from here could be quick and hard. Despite yield differentials between ECB's and Treasuries making new highs this week the Euro's been breaking.

Treasuries are weak on a day of commodity bearishness and dovish Fed talk.

Stocks? I'm not sure and I'm stuck short there. My guess is stocks break but only after every half ass bear like myself get's smoked. Way too many shorts.

IMO stocks won't test the lows for a few months! Rallies will be muted but I'm open to the notion of SPX trading as high as 1530 again. (hopefully not next week, lol)
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Very good post.
 
between now and the first week to ten days of '08, I could care less what the market does. Golf has its silly season, and the markets can have theirs as well. I may get interested when the brokers report. They should be God awful again, but is will be interesting to see what kind of alchemy GS has been doing over the last couple months. Once companies start reporting 4th qtr. earnings? uh oh!. '08 is going to be a pretty tough year for stocks, bonds and if the fed is hell bent to cut rates to zero again? Kiss the dollars ass goodbye. Just my .02...Happy trading!
 
Quote from EdgeHunter:

With the divergence between the SP and the NAZ today... There is a good chance of a strong late day sell off in the SP and/or a gap down Monday morning to reSync the two indexes since they are correlated at a greater than 75%...

anyway... just a thought...


<img src="http://www.enflow.com/p.gif">
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Wouldn't a late day NAZ rally and/or gap up Monday morning accomplish this 're-synch' as well?
 
Quote from Pa(b)st Prime:

The world has turned.

Commodities and big name tech getting smoked.

The Dollar (I shorted Euro's last night) has made a bottom. The rally from here could be quick and hard. Despite yield differentials between ECB's and Treasuries making new highs this week the Euro's been breaking.

Treasuries are weak on a day of commodity bearishness and dovish Fed talk.

Stocks? I'm not sure and I'm stuck short there. My guess is stocks break but only after every half ass bear like myself get's smoked. Way too many shorts.

IMO stocks won't test the lows for a few months! Rallies will be muted but I'm open to the notion of SPX trading as high as 1530 again. (hopefully not next week, lol)
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Essentially i agree. With regard to stocks, in particular. Eventually though, we should see a bear market for awhile, but perhaps not until 2009, when the enthusiasm for propping things up has waned.. Horrendous inflation right now of everything imported from Canada or Western Europe. Perhaps we should invade another country. There is still time between now and Fall 2008 if we hurry.
 
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