Thursday, November 29, 2007
Returning to Arizona
Interesting what has happened after the weekend and the "buzz words" Black Friday, something Monday, Market Recovery Wednesday, sales up 4% on much lower margins - lots of Spin!"
"Denial" - Now there is a concept that has not been discussed, spoken, projected, etc. Part of the Country is in Economic Recession (Stagflation) - California is in a full Recession, Wall Street is in a Boom which will lead to a bust as they look west and see that everyone else have entered into the "fear" mode.
The Market returned to 13,300 yesterday, after a two-day upward move from 12,700. You'll remember in a previous post that 13,300 was to be a bottom to bounce up from. Now it is a top to bounce off of.
The "Plunge Protection Team (PPT)" has been working in the background options market in elevating the market.
Quoted from Wikipedia: "Founded in 1988 after the 1987 stock market crash, it theoretically ensures the stability of the financial markets, prevents liquidity problems, and ensures that stock market hiccups do not cause bank runs. Some Wall Street bears believe that it buys stock index futures or uses other methods to help keep the American stock markets afloat."
(more information: http://www.plungeprotectionteam.com)
Interesting - This morning an explosion of a major Canadian Pipeline - should add to the mix of fear related economic conditions. Is it time to run for cover? - unfortunately, even looking for cover will be quite a task.