Nice breakout in gold (GLD: 108.28 -2.06 -1.87%) today. The Canadian stock market was closed for a holiday yesterday (British Columbia Day/New Brunswick Day/Civic Day - really, they just sound confused). We’ll see how the Canadian market does today.
Alan Farley over at the TheStreet.com - a guy who knows quite a bit about trading stocks - says that Volume Has Become the Great Deceiver.
“Classic technical analysis teaches that price and volume are interconnected by a hidden spring that allows one side to stretch away from the other, until a friction point is reached and the other side plays catch up. However, this relationship has become unreliable, and even dangerously inaccurate, in recent years.”
Tax revenues post biggest drop since Depression
The numbers could hardly be more stark: Tax receipts are on pace to drop 18 percent this year, the biggest single-year decline since the Great Depression, while the federal deficit balloons to a record $1.8 trillion.
U.S. Recession Worst Since Great Depression, Revised Data Show
…The world’s largest economy contracted 1.9 percent from the fourth quarter of 2007 to the last three months of 2008, compared with the 0.8 percent drop previously on the books, the Commerce Department said yesterday in Washington. Gross domestic product has shrunk 3.9 percent in the past year, the report said, indicating the worst slump since the Great Depression.
Zfacts.com seems to be a good website for sourcing various important issues of the day. They have a national debt clock that shows how much debt is added each second. You can see that here: http://zfacts.com/p/461.html
CNNMoney.com shows it’s disconnected from reality with this profile of new bikes. Is the average Joe or Jane - even those who ride bikes all the time — going to pay $8,000 for a bike? Heck, my new bike from LL Bean only cost $299 (it was on sale). And it rides great.
Related Posts
- Thursday — Here’s What I’m Reading (04/23/09)
- What I’m Reading Today (04/07/09)
- Monday Morning Reading (02/23/09)
- Saturday Reading — US Dollar, Unemployment and More (05/23/09)
- Sunday Reading (06/07/09)
{ 2 comments… read them below or add one }
That’s good to hear … Even the things are getting back on track from now on …
You and Larry Edelson shoudl fight it out