exactly this is not 1929
if i was short i would be thinking man is this really worth it - fed will mess my position up if the market drops more
and if this is about US and global growth i simply do not see the issue
go and look at www.drybulkindex.com and you will seerecord import and export levels of coal, iron ore, grain, steel etc.
and let's not forget that IMF some weeks ago revised up their estimates for US and global grwoth
the fact that all this happened from wednesday to next opex friday, makes me think this was once again a manipulated move that lost some control
which shows that the market after taking some hits in february and june was a bit weaker than previously
but we've all said what we wanted to say - let's see the action next week -
but if you were short I don't think you could sleep well knowing that Fed could mess you up at any point
all those stories mess me up - focus on the charts, which are still bullish IMO
enjoy the weekend trend-signals ;-
Interesting points.
Yes, it is a good thing that we have the Fed or else many will have sleepless nights worrying about market crash or jump out the window after market crash.
Good points on the record level of export/import (backing up Buffett's bullish) and IMF raising US/Global growth.
Have a nice weekend
http://www.ssyonline....html?view=2353
CHINESE STEEL OUTPUT 15-08-2007
China produced a near-record 41.25 Mt of steel in July, according to the latest data. Although this is short of the monthly all-time high of 41.5 Mt in June, the July total is up 14% on the same month last year. Meanwhile, China Daily reports that the country’s vehicle production reached 5.01 million units in the first seven months of the year, marking a year-on-year rise of almost 25%.