Econblog Review's proprietary Bloomberg.com's video indicator has begun flashing yellow- not an outright contrarian bearish signal, but consistently promoting the bullish case. This was most assuredly not the situation 2-3 months ago or until recently, throughout the almost inexorable stock market rally of the past 2 months, during which this indicator has shown a good deal of skepticism.
Tonight, out of 6 videos highlighted, all are bullish and only one is bearish- and that is the same old bear Jim Rogers; either you are with him or you have already rejected or decided to ignore his views, so I consider him simply a de rigeur bear.
The bullish videos on the "front page" are, in addition to the Rogers video:
JPMorgan's Gong (a "strategist") likes certain China stocks;
Chairman Bernanke is "encouraged" by banks' plans and wants more self-tests (Ed.: ???);
Ackman says he can add a lot of value to Target;
John Calamos says credit markets are alive and well;
and
Eric Strutz said Commerzbank had a good April.
Also, the other 3 videos now in the archives but from today are all outright bullish. One sees China in the early stages of a bull cycle, the next says the recession is finally over and that economic strength will send oil prices back to $70/barrel; and one highlights a conservative who merely likes corporate bonds if they are guaranteed by the government.
The Establishment loves things the way they can be if governments, companies and individuals all want to continue to enrich the Merchants of Debt by playing the same old game. Sixty-five years ago, Rosie the Riveter was promoted as the hot thing. Now it's Rosie Scenario.
We shall see if this Rosie has as successful an outcome as the WW II gal.
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