Tough market is right. It's time for this thing to fall apart IMO...prop jobs can only last so long...
Would love to see us crack 300 down today and scare some sense back into investors. P/E ratios are still way too high for indexes. Earnings are going to suck (for several quarters more MINIMUM), and ultimately, these fundamentals will reprice the market IMO.
Lat, I agree that it is a prop job. However, the dollar is the least ugly of the currencies at this point, at least in everyone elses mind. The economy has to get much worse compared to Europe for this thing to break. Or I should say that the perception of it must change.
6 comments:
Closed my short on FCX from yesterday...pulled off a C note.
Now I need it bounce and I'll write it again.
Fingers crossed.
Good job bud, tough going here!!!
Tough market is right.
It's time for this thing to fall apart IMO...prop jobs can only last so long...
Would love to see us crack 300 down today and scare some sense back into investors. P/E ratios are still way too high for indexes. Earnings are going to suck (for several quarters more MINIMUM), and ultimately, these fundamentals will reprice the market IMO.
Lat, I agree that it is a prop job. However, the dollar is the least ugly of the currencies at this point, at least in everyone elses mind. The economy has to get much worse compared to Europe for this thing to break. Or I should say that the perception of it must change.
Awesome point John, it at least has to be perceived that we're in worse shape than the rest of the world!!
Strong dollar will hurt exports for US, which is what everyone was excited about last month...
Should be a nice icing on the cake for earnings in Q3/Q4. :)
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