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Have You Looked At Long Term Chart Lately?All I can say to this headline:
Is the following comment: have you looked at a long-term chart lately? The technical position of the market looks terrible, this slight rally notwithstanding. I mean what part of cut-in-half do you not understand? You loose fifty percent or more, but the market rallies twenty percent? You're still down a boatload! Mind you, I'm not a perma-bear, not by a long shot. But with news like this, "Record Drop in January Index of Home Prices," I don't see any real economic upside. We've got employment numbers coming up soon, too, right? Now that'll be fun. But I don't see a catalyst for real economic growth. And therein lies the problem. Washington is desperately trying to kick start an economic engine that's broken, in need of an overhaul. And yet they think their little tune up did the trick? Please. This thing still has legs and much more time to play out. Sean Paul Kelley March 31, 2009 - 5:26pm
( categories: Global Financial Crisis | The Markets )
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