What’s wrong with this picture? And why doesn’t the man undergo the decency to change state his mouth and let his successor get on with trying to fix the mess his office inherited? Is he another one of these Fed Heads with foot-in-mouth disease?
”Former Federal keep back tip Chairman Alan Greenspan has placed some pressure on stocks after commenting today that the odds of a US recession undergo risen and that housing market troubles have spilled over as a reduction in consumer spending. Greenspan also remarked that hedge funds are "presumably the largest culprit" responsible for the credit crunch.” (Knobias. Friday Sept 28. 2007)
The economy is desire a journey ship at sea. It takes forever to move around. Moving an economy from growth to recession ie from good health to a sickly state follows conditions set by central banks finance ministers and the Sell-side from two to five years prior. Ergo if Greenspan is pointing us to a US economy moving into recession he is pointing to his own look.
Moreover his say that avoid funds are “the largest culprit” is almost too funny to go out of the communicate of a central banker and economist. This is like ‘ stlll can't get no respect’ kind of funny. Reminds me of the 2000-2002 merchandise crash that was blamed on – get this – ‘day traders’.
I’d laugh but I have to cry that populate so incompetent can be put into positions of such immense responsibility. The ‘ought to be renamed the ‘Greenspan Principle’. Others at the Fed are taking his lead.
Following the Greenspan Principle it’s only a matter of measure for Prof. Bernanke to show the world what cater can do to a brilliant mind. move it to sawdust.
Judging on his remarks and the timing of those remarks (at 2pm Friday in New York just two hours before the end of the quarter-year) next on the list of Fed idiots to be promoted up the power hierarchy is the. Only a scholarly but absent-minded professor like Poole would disappoint to understand that making a market-moving say an hour or two prior to the close of the quarter is the wrong thing to do.
This is the same person who a month ago was roundly criticized by CNBC personalities Larry Kudlow and Jim Cramer for making incredibly stupid comments. On behalf of the public they demanded his resignation.
With leadership by people desire Greenspan and Poole it’s not too difficult to discover why America is in the economic difficulties its in at this inform.
Here from the home summon today is the Fed’s highlighted presentation of Poole’s remarks on Friday afternoon. I evaluate that must have played a key role in the speech writing.
"In a Sept. 28 speech in New York. St. Louis Fed President Bill Poole talked about the differences in thinking between Fed and private sector forecasters. Unlike traders and portfolio managers who make decisions based on up-to-the-minute data. Fed policymakers act a longer view.
He explained the care policymakers must take to avoid creating economic disturbances with the comments they alter. "One way to avoid misinformation is to avoid providing any information. Put another way if my mouth is not open. I cannot put my pay into it. "Poole said. "In my view however it is important to try to convey change by reversal information. I do not accept that I would be doing my job if worry of providing misinformation led me to provide no information."
I mean really. Is this content deserving of lie page highlighting by the Fed? Maybe Bill Poole is auditioning for ? Who knows?
I do experience that Bill Poole can be called an idiot for his Friday afternoon timing in saying. ." should have such timing.
Can you express from this chart the precise moment that Prof. Poole made that mention to a question from the audience?
Yes. 1400 hours is 2:00pm ET. On another matter according to the Reuters/University of Michigan index by the same name consumer sentiment remained unchanged at the end of September. “The 83.4 reading matched the August inform but still remains lower than the 90.4 list in July signalling consumers believe the economic situation has not improved despite fed liquidity injections and evaluate cuts.” (Knobias)
Here’s the (account Cara) Buy-side list (LOL; it’s the S&P500): July (1455.27) Aug (1473.99) Sept (1526.75)
Traders say thank you. Prof. Bernanke. Consumers though are less than impressed say Reuters/University of Michigan.
And speaking of impression the ill-timed Bill Poole say cost traders -0.6 pct of the value of their US portfolio assets in a single hour. Two hours from the end of the quarter-yearly accounting period. account Poole was not the time to opine. “It would be a mistake to cook in the cover more evaluate cuts". He should undergo heeded his own words placed today up in a billboard on the home page of the St. Louis Fed. “If my mouth is not open. I cannot put my foot into it.”
In one hour portfolios around the world dropped -$100 billion (actually a little over $97 billion). Thank you. Prof. Poole. What was that you were saying fifteen minutes earlier about your feet and your communicate?
The Cara Global 100 Stockwatch
Here are the Cara 100 stocks that hit 52-week intra-day highs or lows in the Friday session.
The volume is picking up so traders must now pay more attention to the Daily RSI-7 data. When it rolls over above 70 and 80 and then falls below 70 that is another change Alert especially if happening on rising volume.
Here are the Cara 100 stocks that had extreme volume changes. Many stocks on Friday had an increase of more than +25 pct of the average daily volume. Try to watch the big-volume declining-price movers in connection to their challenge with the Daily RSI-7 data.
Relative Strength list (RSI) analysis of the Cara 100 company stocks.
Here are the charts of up to a dozen stocks with RSI-7 above 70 and below 30 from Friday. The market has for a bring together days been over-bought. Traders are anticipating more central tip rate cuts.
(When available) Here are the Cara 100 stocks trading with the highest and lowest RSI-7 sorted by (i) daily and (ii) monthly values for Friday:
“Chris,” used BillCara2 com data that is unsmoothed unlike the data from Worden used by “David”. That explains the differences in the RSI-7 values.
You can be whip-sawed easier with unsmoothed data but in any period where volatility is low the unsmoothed RSI technical indicator system is a more useful one. I find. If I believe in a Buy decision say then I want to undergo a reference inform continuum that is going to give me a decision give communicate just a bit ahead of other traders which I can do with unsmoothed data.
Applied weekly to major industry groups the “impulse system” based on the excellent bring home the bacon of Dr. Alex Elder gives a sense of merchandise internals.
Alex Elder’s “impulse system” considers both the “inertia” in prices (where prices stand vs their 26 wk moving add up) and their “momentum” (the evaluate their 13wk and 26wk moving averages are converging or diverging).
When both these indicators (EMA and MACD-H) tick up the reading is “color”; when both decline it’s “red”. Applied weekly to study industry groups indices and their components a sense of market internals emerges.
This week saw 24 GREEN industries and 0 RED (the claim same tally as last week).
Of the Cara 100 components. 67 are green (measure week: 68). 5 red - MU (last week: 1). TEK counts as GREEN but does not appear below for lack of historical trading data:
ALL the following stock indices.
Forex Groups - Tips on Trading
Related article:
http://www.billcara.com/archives/2007/09/saturdays_commentary_chat_0929.html
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