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market temper tantrum
photo
is how I see today's market activity, with the DJIA testing the last Fibonacci support before the Jan lows before closing about 50 points above it. Evidently, the market isn't taking a fancy to Bernanke's newly stated pro-US dollar/ anti-inflation/ no more rate cut policy. Let's see, the market wants an inflation fight, to squelch the commodity and oil bubble, but it also wants rate cuts, for the economy still is not that strong. Hard to see how this dichotomy can be resolved at these equity price levels. Anyway, we break today's lows, I'll be loading up on my double inverse ETFs like Hillary Clinton at a pink pantsuit sale.

2008-06-03 20:13:06 GMT
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