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   Strategies & Market TrendsBuy and Sell Signals, and Other Market Perspectives


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To: GROUND ZERO™ who wrote (11912)10/29/2010 12:17:25 PM
From: Hawk
   of 152512
 
Ergo, I think we get the correction many have given up hope on. I think that the Fed is going to disappoint many, check out Roubini.

LONDON (Reuters) - The U.S. economy is a "fiscal train wreck" waiting to happen that risks ushering in a period of stagnation featuring by minimal growth, high unemployment and deflationary pressure, U.S. economist Nouriel Roubini wrote on Friday.

In a commentary for the Financial Times, Roubini -- one of the first economists to predict the housing crash in the United States and known as 'Dr Doom' for his pessimistic forecasts -- said fiscal and monetary stimulus had prevented another depression.

But he said that further quantitative easing likely to be announced by the Federal Reserve next Wednesday will have little effect on U.S. growth in 2011, "so fiscal policy should be doing some of the lifting to prevent a double dip recession," he said.

He said the U.S. remains on an "unsustainable fiscal course" and the likely make-up of Congress after elections next Tuesday, in which the Republicans look set for strong gains, virtually takes fiscal reform off the agenda.

"The risk ... is that something on the fiscal side will snap ... The trigger could be a debt rollover crisis in a major U.S. state government," he wrote.

"The worst of the coming fiscal train wreck will be prevented by the Fed's easing. But the risk is (Obama) ... will then preside over ... a Japanese style stagnation, where growth is barely positive, and deflationary pressures and high unemployment linger."

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To: Hawk who wrote (11914)10/29/2010 12:40:24 PM
From: GROUND ZERO™
   of 152512
 
Yes, I see, thanks for the explanation... Roubini has always been a bear, but his argument seems plausible... either way, if/when I finally get that sell signal, I plan to short this market without hesitation... but still, what about those numbers released this morning and yesterday morning? Jobless claims are down and economic numbers are moving higher...

GZ

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To: TraderMann who wrote (11913)10/29/2010 12:41:54 PM
From: GROUND ZERO™
   of 152512
 
I heard of "sell in May," but I never heard of "buy at Halloween"...

GZ

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To: GROUND ZERO™ who wrote (11916)10/29/2010 12:47:35 PM
From: TraderMann
   of 152512
 
Me too (not heard of it), but I feel that is what was said...but let the poster speak for himself. :)

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To: GROUND ZERO™ who wrote (11916)10/29/2010 12:51:43 PM
From: TraderMann
   of 152512
 
Another pt., if 1172 holds today, we jump higher Monday, maybe even a gap up. I feel that 1177 will hold now. 5+ bounces off 1177 in the past week. A sell off might happen, but I feel the odds favor up, at least for the 1st half of next week...then we'll see, might do a double top and then sell off...

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To: GROUND ZERO™ who wrote (11915)10/29/2010 1:10:37 PM
From: Hawk
1 Recommendation   of 152512
 
GZ, please, please take the numbers with a grain of salt. Ok, yesterday numbers looked good right? Well, did you know for the past 27 weeks the numbers have bee revised and 25 of the 27 times were increases or more claims. The game is to come out with good numbers and revise the next week. Nobody is paying attention and everybody forgets by the time the new numbers come out. There is no real work out there.

But as long as you have the money spigot open anything can happen.

Of course I reserve the right to be wrong.LOL

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To: GROUND ZERO™ who wrote (11915)10/29/2010 1:12:52 PM
From: Hawk
   of 152512
 
Oh the numbers today look at it closely, the reason it went up is the price index/component went for 50 to 68, can you say inflation.

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To: TraderMann who wrote (11918)10/29/2010 1:35:26 PM
From: TraderMann
   of 152512
 
Anyone?
How will the market overall take a party switch in the House and maybe the Senate???

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From: Honey_Bee10/29/2010 1:35:58 PM
1 Recommendation   of 152512
 
I think the market might have dipped this morning on the report of the terrorist threats that are going on right now.

.

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To: Hawk who wrote (11919)10/29/2010 2:00:32 PM
From: GROUND ZERO™
   of 152512
 
Thanks for the warning, I take everything the government says with several grains of salt, I don't believe anything they say...

GZ

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