by oldflame 49 Replies latest jw friends
Does anyone else have a hard time figuring out what to believe regarding where this is headed? After spending most of my life living in the JW cocoon, the abundace of information I am now confronted with makes it real confusing.
One thing I will say, I believe that the more things you have that are paid or better off you are.
The Dow is at 10,300 now. Keep an eye on all stock market indexes. If Dow hits 10,700 again it could be a double top and reverse sharply. If it drops below 9900 again be very cauious. If it breaks through 10,700 there could be more momentum behind this rally. Be very disciplined, use stops and stick religiously to a trading plan.
Think About It
You think it's getting better ? Read below !
WASHINGTON – Unemployment rose in 30 states in January, the Labor Department said Wednesday, evidence that jobs remain scarce in most regions of the country.
The data is somewhat better than December, when 43 states reported higher unemployment rates , but worse than November, when rates fell in most states.
Still, five states reported record-high joblessness in January: California, at 12.5 percent; South Carolina, 12.6 percent; Florida, 11.9 percent; North Carolina, 11.1 percent; and Georgia, 10.4 percent.
Michigan's unemployment rate is still the nation's highest, at 14.3 percent, followed by Nevada, with 13 percent and Rhode Island at 12.7 percent. South Carolina and California round out the top five.
There were some signs of job creation. Thirty-one states added jobs in January, up from only 11 in the previous month. But the job gains weren't enough, in many cases, to lower the unemployment rate .
For example, California reported the largest job gains, of 32,500, though its unemployment rate also rose. Illinois, New York, Washington state and Minnesota reported the next highest totals of new jobs.
The lowest unemployment rates are still found in upper Plains states, with North Dakota 's jobless rate of 4.2 percent the lowest in the nation. Nebraska and South Dakota had the next lowest rates, at 4.6 percent and 4.8 percent, respectively.
In January, the national unemployment rate fell to 9.7 percent from 10 percent the previous month. Last week, the Labor Department said the national rate was unchanged in February at 9.7 percent, a better reading than most analysts expected.
State unemployment data for February won't be released until later this month.
The Myth of Recovery
. . .
Whether the economy recovers quickly in 2010, stagnates for a while, or stumbles into the dreaded W-shaped double-dip recession, the policy response will depend on a calculus between short-term and long-term pain. The more Washington kicks the can down the road on spending, housing, and banking, the more long-term troubles the American economy will face. Obviously, giving federal money to consumers can be politically popular, just as bailing out bankrupt states can be politically expedient for politicians who depend on support from public-sector unions. But these short-term gimmicks do not lead to sustainable economic growth. And the president himself has indicated that the free money days might be coming to an end. “It is important though to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession,” he said in November.
The Congressional Budget Office has projected that by the end of 2019 the U.S. will have nearly doubled its debt to more than $17 trillion, or 82 percent of GDP. And that’s before dealing with the peak of baby boomers draining Social Security and Medicare funds. And it’s not just government capital rapidly draining away. The administration’s political capital took a massive hit in January when an unknown Republican won Teddy Kennedy’s old Senate seat in overwhelmingly Democratic Massachusetts. The president is running out of other people’s money and with it the chance to maintain his Potemkin case that the economy is recovering.
http://reason.com/archives/2010/03/10/the-myth-of-the-recovery
The Dow is at 10,300 now. Keep an eye on all stock market indexes. If Dow hits 10,700 again it could be a double top and reverse sharply. If it drops below 9900 again be very cauious. If it breaks through 10,700 there could be more momentum behind this rally. Be very disciplined, use stops and stick religiously to a trading plan.
The Dow is now back in the double top 10,700 range. What happens next sharp reversal or break out to new highs? I started some short positions, but will sit on tight stops.
Think About It
The Dow will hit 13,000-14,000 by the end of this year.
Judge Dread
Look at the 2003 bull market.
This 2010 market is a mirror image of that one.
Judge Dread
My short positions right now are small and like a hedge due to the recent run up. My line in the sand is Dow 10,800. If that is breeched, I'll go long heavy on dips.
Think About It
I tried shorting since May of last year in certain situations.
BAD IDEA!!!!
Judge Dread
