This week I posted a rare bearish rant . It got a lot of play. I was just pointing out the obvious. This weekend, the media is having a FIELD DAY with the lenders. CNN has it all figured out. The lender’s are to blame for the mess. Please…The borrowers are just as guilty for this mess. It’s that sense of entitlement that we have grown accustomed to in this great country.
If you get caught up in the blame game, you may miss the one-two punch that the rest of the market could bring.
I was doing some regular weekend surfing and The Chairman was pointing out the weakness of Copper and Fedex as warning signs . Over at Colin Twiggs site, he takes a deeper look at the potential problems . It’s pretty good.
I am not convinced we are going to hell, but many of my positions are acting that way. What should seem obvious to you though is that we need a lot of strength from here to show me that the market is on good footing.
The negative evidence continues to pile. It takes waaaay longer for tops to form than bottoms. Fedex, Copper, Oil $95, Weak Semi conductors, destroyed financials and housing stocks…no need to be a hero.