The US is officially showing some acute signs of decline
The US is officially showing some acute signs of decline. Though, I love the DOW and our country, the fact that Cottonelle actually used Tori Spelling and her husband to determine if people rolled their toilet paper over or under is not promising. The story was reported by PRN on the wires between a PBOC statement on Monetary Policy stance and the EU’s Barroso commenting on Nuclear Waste issues providing further evidence why people think the US decline is eminent. Over / under on how long that ad exec will keep position? It is March madness?
Nearly every major Asian stock index was up nicely on the day and Europe is trading up on the Greek news we commented on. US Indexes are up in Europe so it looks like another great day for the US markets. Breaking through Dow 10,500 may attract some profit taking though the technical momentum looks more like the market will test 10,750 or even 11,000 first. And I admit my opinion is biased as I’ve projected Dow 12,000 for year end. There is just so much cash on the sidelines and I don’t see it going too many other places unless the offshore funds sneak another round of air investments past the regulators in the form of asset based exotic derivatives stemming from the Trillion dollar looming commercial debt debacle. There is significant uncertainty related to this situation and definitely high up on our watch list.
