Bulls are starting to whine like bears have the last couple years (everyone/daytraders/SOMEONE!!! is just looking for a reason to keep buying/selling). I heard Barton Biggs whining on Bloomberg today about how the S&P negative outlook on the U.S. credit rating is just an arbitrary reason to sell; he couldn't see any other reason for a selloff today. How about multiple and continuing GDP downgrades? How about the Finnish elections and the imminent Greek debt restructuring? Or the Spanish insistence that it's not Portugal (which wasn't Ireland (which wasn't Greece (which didn't need a bailout!))) as its bills are hardly placed today, and its bond yields and CDS are rising fast? And Italy isn't far behind!
Well, we'll see how it goes.
Ah, and something else to keep an eye on - Beijing real estate prices are down something like 25%YoY, I think . Bubble popping? May be a good time to start looking at ways to ride the wave down...
Well, we'll see how it goes.
Ah, and something else to keep an eye on - Beijing real estate prices are down something like 25%YoY, I think . Bubble popping? May be a good time to start looking at ways to ride the wave down...
Another sign of the tide turning: David Rosenberg has turned bullish.
ReplyDeletehttp://www.cnbc.com/id/42782844