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After exiting two weeks the Dow Jones goes nowhere

Franklin @ October 27, 2007 # 5 Comments

The past two weeks were very exiting. Companies reported large gains and large loses. Heads of CEOs may roll. By the way, it is near the bottoms and not at tops when all the bad news are out and CEOs are fired or go to jail, still I continue to expect lower short term prices […]

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Dow Jones 400 to 600 more points of pain

Franklin @ October 22, 2007 # 3 Comments

You read here on October 12 that the Dow Jones was in for some pain (http://services.thebankruptcynews.com/blog/?p=70). We said that “The Wall Street sponsored media should start next week pandering bad news and creating a climate of fear using the available examples of very bad October markets. Expect myriads of articles about 1929 and 1987.” The […]

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Bad News For the Dow (Short Term Bear Fest)

Franklin @ October 12, 2007 # 4 Comments

As I write this, the Dow is 47 points up. I would expect it to close down for today. Yesterday was a key reversal day, a technical signal traders pay a lot of attention to. A Key Reversal Day is when the market makes a new high, reverses and closes below the previous low. If […]

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Official Reports Confirm Economy Worse Than in 2000

Franklin @ October 11, 2007 # One Comment

The Dow Jones’ new high is a numeric illusion The Personal Savings Rate is at the same level it was during the last recession Economic growth (GDP) is lower than inflation growth (i.e., the economy is not growing) Even after adjusting for inflation, cost of living is 17% higher than it was in 2000 The […]

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The real economy

Franklin @ October 8, 2007 # 31 Comments

I wrote previously that, in constant dollars, the Dow Jones is far from a new high (actually, some 8% away). Those constant dollars, however, were based only on inflation data, which is statistical data and not actual market data. The following table shows the 2000 and 2007 prices in terms of different commodities. The calculation […]

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Is the Dow Jones at a new high?

Franklin @ October 8, 2007 # 14 Comments

Two weeks ago I mentioned that current currencies have no inherent value, and I gave the dramatic example of the Argentine currency from the 70s to date. Today, I will comment on the myth of the new high for the Dow Jones Industrial Average, which is portrayed as an example of the economic health of […]

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Expect increased volatility

Franklin @ October 1, 2007 # 7 Comments

On August 20th, when the concern on the media was the liquidity crisis and the falling market I wrote to a good friend of mine “The move on the DIA since the bottom of 2002 looks parabolic. If we break the previous high we will be “on the other side of the curve” when things […]

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At a financial crossroads

Franklin @ September 19, 2007 # 6 Comments

With gold about to retest the previous high and the Dow Jones average at less than 200 points from the previous high, I will look at two different scenarios and their possible implications for the consumer market. As I pointed out before, Bernanke’s solution to the “liquidity crisis” is utterly destructive because it implies more […]

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