Please see the post of "Avid_Consumer" in the thread below:
http://www.elitetrader.com/vb/showthread.php?s=&postid=1629858#post1629858
http://www.elitetrader.com/vb/showthread.php?s=&postid=1629858#post1629858
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Where is the recession? Show me ?
- Thread starter HedgefundTrader2
- Start date
You have the housing bubble collapsing and the banking system that was on the brink of collapsing. Consumer and oil prices rising through the roof. I'm not sure what more do you want for a recession? Forget about the classic definition, 2 quarters of consecutive GDP decline. There's a recession in the housing market, the restaurant industry, retail industry, and banking industry. Have you noticed that retailers are posting slower sales? Macy's, Federated, Kohls, Wilson's Leather, JC Penney. Okay, Walmart and Costco are doing well, because consumers are going there to save money on goods.
All I know is the consumer has to be spending dollars to keep stocks on the rise. I don't anticipate a whole lot of enthusiasm for that given the dollar, gas, food and unemployment stats. I trade rimm and aapl a lot and I just trade what I see... but I kinda laugh when I see the prices I'm seeing now... the consumer is in a bind with his dollars... but whatever... I don't really care... I keep trading what I'm seeing...
+1Quote from Cocaine:
It wouldnt matter if an asteroid hit earth killing half the worlds population and rendering stock exchanges obsolete as people scramble for survival, Hedgefundtrader2 will still be cheering the economy and will still require his two qtrs of negative GDP to make it "official".
Quote from gymratnyc:
You have the housing bubble collapsing and the banking system that was on the brink of collapsing. Consumer and oil prices rising through the roof. I'm not sure what more do you want for a recession? Forget about the classic definition, 2 quarters of consecutive GDP decline. There's a recession in the housing market, the restaurant industry, retail industry, and banking industry. Have you noticed that retailers are posting slower sales? Macy's, Federated, Kohls, Wilson's Leather, JC Penney. Okay, Walmart and Costco are doing well, because consumers are going there to save money on goods.
Have you seen INTC, ISRG, GOOG, IBM blowing the doors off the earnings? These are bell weather big cap names that dominate the world. Where is the recession now?
What it is you are only focused on the bad and picking what you need to suit your emotional state of mind. We just can't go by if you " feel" we re in recession, we have to go by the standard definations of recession and can't move the goal post to coincide state of the economy with your emotional needs.
I know how you feel: Its called negative sentiment in the market that is a bullish indicator.
Made nearly 8K on goog in AH...this recession is so painful.
And thanks to the fake liquidity crisis I have no liquidity either.
And thanks to the fake liquidity crisis I have no liquidity either.
Quote from gymratnyc:
This recession is different than the 2001 recession, it hasn't affected tech that much.
There has been no recession.
After 350 posts in my other thread not a single poster worldwide could prove one!
They chimed in how the " feel" and how the " see" but nothing objective ever came out of this sad tale for the last 3 months. However these people did great damage to our charts and stocks, which a recession would not have!
They destroyed GOOG, AAPL, BIDU, and others.. very sad indeed!