http://www.marketwat...3-BB40D06487D7}
WASHINGTON (MarketWatch) -- Wounded by the financial crisis, U.S. consumer confidence plunged in October, reaching an all-time low, the Conference Board reported Tuesday. The October consumer confidence index fell to 38 from an upwardly revised September reading of 61.4. Economists surveyed by MarketWatch had expected an October reading of 52. Expectations turned "significantly more pessimistic," with the percentage of consumers expecting business conditions to worsen over the next six months rising to 36.6% from 21%, and those expecting fewer jobs rising to 41.5% from 26.9%. End of Story
U.S. consumer confidence plunges on financial crisis
Started by
Swiss Trader
, Oct 28 2008 09:14 AM
7 replies to this topic
#2
humble1
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Posted 28 October 2008 - 09:53 AM
so, what do you think, swissie?
is that a time to sell or to buy?
#3
Swiss Trader
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Posted 28 October 2008 - 10:10 AM
so, what do you think, swissie?
is that a time to sell or to buy?
Sell, absolutely
I am short and my target is around 720/700 area
I posted lots of bearish posts since early last week
#4
humble1
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Posted 28 October 2008 - 10:17 AM
okay: no problem and thanks. i was just asking if a sell on that particular news was a good idea.
btw: i still thank you for that great chart which showed the august, 1982-october, 2007 range! the elegance and simplicity of gann came through and i had not seen it from that perspective.
regards and good luck,
H1
#5
traderpaul
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Posted 28 October 2008 - 10:37 AM
Market went up on bad news....She is no longer singing the blues....That is what i wanted to see.....
"Inflation is taking place now. Prices may not appear to be rising because they are making packaging smaller. "— Rickoshay
#6
selecto
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Posted 28 October 2008 - 10:37 AM
Before that drum is banged too loudly, one might want to
determine if there is some kind tradeable correlation.
I have read of researchers who have tried unsuccessfully
to do so. Should be fairly easy to plot if one was curious enough.
Its sentiment stuff. Betcha Mark knows.
Edited by selecto, 28 October 2008 - 10:40 AM.
#7
humble1
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Posted 28 October 2008 - 10:54 AM
part of the mix, only, selecto: used by zweig to great profit when he was favored by ms. market for many, many moons. you are a young thing and may not remember those days, first hand.
anyway: load up short if you wish and get the avid crew to join you!
#8
traderpaul
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Posted 28 October 2008 - 02:28 PM
Before that drum is banged too loudly, one might want to
determine if there is some kind tradeable correlation.
I have read of researchers who have tried unsuccessfully
to do so. Should be fairly easy to plot if one was curious enough.
Its sentiment stuff. Betcha Mark knows.
Selecto, It is the reaction to the news that you trade......Confidence, housing start, unemployment, whatever.....
"Inflation is taking place now. Prices may not appear to be rising because they are making packaging smaller. "— Rickoshay
