AugustForecast » Market Analysis

Market Update 07/30/2010

Patrick Wood — Fri, 30 Jul 2010 20:52:29 +0000

Manufacturing activity is too low to create new jobs. St. Louis Fed president worries about deflation and economic decline. Leading financial pundit is taking Robert Prechter seriously: Could the Dow hit 1,000? M3 money supply in the U.S. is contracting at a 10 percent annual rate. Stocks still have some resilience but the rally is wearing very thin; a strong downdraft in prices could be seen as early as next week.

Market Update 07/28/2010

Patrick Wood — Wed, 28 Jul 2010 19:17:53 +0000

Secret and unaccountable intelligence networks threaten the security of all Americans while leading the U.S. down the road to outright tyranny. Durable goods orders shrunk in June by 1 percent, while the Baltic Dry Index continues its free fall plunge. Moody's turns negative on big banks as 2010 bank failures tops 100.

Market Update 07/26/2010

Patrick Wood — Tue, 27 Jul 2010 01:37:35 +0000

Real estate foreclosures rise as sales decline. Without a substantial recovery in employment, there can be no true rebound in real estate. When he headed the NY Fed, Timothy Geithner knew that some of the AIG bailout money was going to European banks; did he lie to the Senate during his confirmation as Sec'y of the Treasury? Stocks are at crossroad, looking at a down day on Tuesday/Wednesday or an extended rally lasting for another 1-2 weeks.

Market Update 07/23/2010

Patrick Wood — Fri, 23 Jul 2010 22:16:59 +0000

European bank stress tests are lame because sovereign debt risk is not factored in. Is ECB's Trichet trying to push Humpty Dumpty off the wall by pushing global austerity? Investors temporarily cling to the good news of earnings reports, while stocks take on a more complex correction pattern.

Market Update 07/21/2010

Patrick Wood — Wed, 21 Jul 2010 20:37:50 +0000

So far, TARP has cost $45,000 for every man, woman and child in America. The Financial Reform bill is largely the same as the Treasury Blueprint created in 2008 on Henry Paulson's watch at Treasury; it just needed the right crisis to slip it through. Deflation is getting more widespread recognition. Stocks should continue to work their way down in weeks to come, as with gold and silver.

Market Update 07/19/2010

Patrick Wood — Mon, 19 Jul 2010 20:19:17 +0000

Geithner's poor handling of GM and Chrysler dealers caused the failure of thousands of small businesses. The IRS, which Treasury manages, will cause additional thousands of failures with draconian enforcement of Obamacare requirements. Is the globalist goal to establish a Technocracy in America and the world? Stocks appear ready to complete a minor upward correction prior to heading down again.

Market Update 07/16/2010

Patrick Wood — Fri, 16 Jul 2010 20:48:53 +0000

"The world is at risk of folding in on itself", according to a Roubini economist. Manufacturing and prices both fell in June, marking economic deterioration and deflation at the same time. Consumer sentiment also dropped in July to the lowest level in one year. Stocks were punished hard as wave 3 down resumes. There is some risk of a waterfall decline from current levels.

Market Update 07/14/2010

Patrick Wood — Wed, 14 Jul 2010 23:08:48 +0000

Presidential Commission on Debt: A "cancer" that will "destroy us from within." Retail sales fell for second month as 70 percent of Americans believe we are already in a recession. Summer travel and tourism had rocky start in June. Mortgage applications fell to a 13 year low, further deteriorating the real estate market.

Market Update 07/12/2010

Patrick Wood — Mon, 12 Jul 2010 20:45:07 +0000

Consumer credit scores are in the tank as borrowers slip below a 599 rating. These will not help any supposed retail revival in the near future. The FDIC indirectly admits that there are "large, risky banks" in the 8000 lenders who collectively hold $7 trillion of deposits. Stocks may have already set minor wave 2 highs, and are ready to roll over into wave 3 down.

Market Update 07/09/2010

Patrick Wood — Fri, 09 Jul 2010 20:22:28 +0000

Greenspan says "pause" in economy. Privatization of public assets will accelerate as states go broke. Debt collection agencies are more abusive as consumers have less to pay on debt. When the current market rally peaks, the next direction should be down hard to new lows.