By John Galt June 23, 2011 Without a doubt,today’s stock market was an EPIC BAIL. They kissed the 200 DMA on the S&P 500, stick saved it and brought it back from the brink. Look for a surge towards 1300 and over 12,200 on the Dow as they re-balance the Russell 2000 tomorrow and the shorts continue to cover. All the powers that be want to do is save the markets for earnings season but on tonight’s show, I think my prediction might shock…
By John Galt June 23, 2011 This week’s report from the Department of Labor both seasonally adjusted and non-seasonally adjusted tell the tale of woe: When viewed in perspective of the NSA claims over the long term, the U.S. economy is far above the “norm” for an improving economy and another hint of a stall then crash may well be validated by the continuing reports which indicate deteriorating data every month:
By John Galt June 23, 2011 Per the New York Times this morning the answer appears to be “yes” and could create even more headaches as the derivatives nightmare expands and is analyzed with all of the PIIGS nations. If the maximum exposure of just over $78.7 billion for Greece is all that is at risk, then it does not appear to be a major crisis as the U.S. could print that away with the ECB in nothing flat. However, if there are more…
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