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DOW Watch January 22, 2009 – It’s Alive! It’s Alive!
Ms Sans Serif
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[quote:Anonymous Coward 473581:MV83MTA5NDhfMTA4OTI1NDlfQTk0MzY1NDk=] I heard that the rally yesterday was due to bank CEO's buying their own stock, maybe with tarp funds. [/quote]
The PPT that is!
Well I am humbly 0-2 this week and about to send myself to the bench. What have I learned the past two days? That the PPT is alive and well!
I challenge anyone to produce a single piece of good economic news. Long and short there is none. HSBC rises in Europe based on ‘pledge’ of ‘an expanded and prolonged role stabilizing banks’. What a load of garbage! Yet Europe’s stocks are up.
Folks let me repeat the quote by Treasury Secretary Nominee Geithner, ‘an expanded and prolonged role stabilizing banks’. Read between the lines. Expanded and prolonged sounds an awful lot like another way of saying Nationalize the banks. This site often discusses the theory of one global currency. If Banks globally are nationalized then the theory is just one step away from actuality. Frankly, I am very concerned about where this is headed.
End of the day call.
If unemployment numbers top 550K then -245
If unemployment numbers under 550K – 95
If unemployment numbers under 500K +35
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