“I label this the "Paradox of Thrift," in that we can't restore our balance sheets without additional savings, and our stock markets cannot recover without consumer spending and corporate profitability.”
-- Cliff Draughn

Chartz and Table Zup @ www.joefacer.com.

Stay Tooned. We opened the year with the stock market inna near free fall, bounced hard at a ridiculously low level, and ascended back to where we are now.



Where dat? Either at a pause before an ascent higher on better economic conditions... in which case I got time to get way long. Or in an overvalued position based on too much hope and mistaking rotting slower for improving. See coupla three four post down below. In that case I stay in bonds and the GIC.

More to come.

http://www.youtube.com/watch?v=e3LEhfbK ... re=related

http://www.msnbc.msn.com/id/31564752/ns ... _business/
http://www.debka.com/article.php?aid=1396
http://money.cnn.com/2009/06/30/real_es ... 2009063009
http://www.mercurynews.com/topstories/c ... ck_check=1
http://www.ritholtz.com/blog/2009/06/ca ... -falls-18/
http://www.ritholtz.com/blog/2009/06/10 ... challenge/
http://www.ritholtz.com/blog/2009/06/mo ... -adjusted/
http://www.ritholtz.com/blog/2009/06/ai ... on-to-fly/
http://www.bloomberg.com/apps/news?pid= ... Dhz5w8ODrY
http://money.cnn.com/2009/06/26/news/co ... 2009062622

http://www.bloomberg.com/apps/news?pid= ... llNt3iGquQ
http://www.bloomberg.com/apps/news?pid= ... obeTB25ZeY
http://www.bloomberg.com/apps/news?pid= ... quXjXBNKo0
http://www.ritholtz.com/blog/2009/07/usa-spendinggov/
http://www.ritholtz.com/blog/2009/07/usa-spendinggov/
http://www.ritholtz.com/blog/2009/07/usa-spendinggov/
http://money.cnn.com/2009/07/01/markets ... 2009070116

WEDNESDAY Night:

Employment news out Tomorrow AM. We'll see what's up. There is no question that the stock market and stocks have recovered. I'm totally uncertain about the companies and the employees that the stocks represent. Earnings "Better Than Feared" was worth something. "Still in Business" was worth something. Driving down costs by jettisoning expenses, capital projects, charitable contributions, and employees is worth something. And then it is over. That quarters earnings report is history. What is left for the next quarter is growth and revenue and profits. My wife says many small retailers, even the national names are bailing from the mall in my neighborhood. She suspects that much of the rise in school enrollment in her district may be from subprime mortgage holders moving back in with family. If you read the links pn the COFGBLOG, you know what I'm seeing. Banks with great earnings derived from cooked books and taxpayer largesse. Bankrupt manufacturing and employment numbers padded with B/D adjustments. The employment numbers will give me a glimpse and the earnings reports will pull back the curtain.

Meantime, this occasional daytrader and insanely aggressive position trader has his 401a in Bonds and the GIC.

Stay tooned....