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alstry (< 20)

Green Shoots Smoked!!!!



June 15, 2009 – Comments (9)

WASHINGTON (MarketWatch) -- Manufacturers in the New York region said business worsened in early June, according to a report released Monday by the New York Federal Reserve Bank. The Empire state index fell to negative 9.4 in June from negative 4.6 in May, indicating the downturn broadened to more firms. Readings under zero indicate more firms said business was worsening than said it was improving. The new orders index improved marginally to negative 8.2 from negative negative 9.0. Economists surveyed by MarketWatch expected the headine index to fall to negative 3.0.

So le't summarize the Green Shoots....

Contracting Manufacturing

Contracting Airlines

Contracting Hotels

Contracting Jobs

Contracting Wages

Contracting Retail

Contracting Commercial Real Estate

Contracting Health Care

Contracting Government

Contracting Construction

Contracting Trucking

Contracting Rail

Contracting Autos

Contracting Computer Sales

Contracting Technology

9 Comments – Post Your Own

#1) On June 15, 2009 at 9:28 AM, OneLegged (< 20) wrote:

C'mon.  It's on the news every  night and every one I know tells me the same;  The Recession is over! (dripping sarcasm).

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#2) On June 15, 2009 at 9:40 AM, jddubya (< 20) wrote:

So where's the positive, Alstry?

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#3) On June 15, 2009 at 9:54 AM, OneLegged (< 20) wrote:

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#4) On June 15, 2009 at 10:07 AM, DownEscalator (< 20) wrote:

With all those contractions, we're bound to give birth to something soon.

(Someone had to do it)

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#5) On June 15, 2009 at 10:15 AM, AdirondackFund (< 20) wrote:

Uhm, did anyone notice that we opened lower today by 1 1/2 percent on the major averages?  Did I miss something, or is this what Soros refers to as 'reflexivity' in markets?  What could markets possibly be reacting 'reflexively' about with all of those 'green shoots' out there paying our bills and Uncle Sam's too?

Did the bulls get caught with their hand in the cookie jar again?  There was one Bull Post this weekend where the writer of the post described himself as 'taking the day off from worry, drinking a beer, and watching TV'.  Geez,  are you kidding or are you now wearing your complacency on your sleeve?

Personally, I like to see my 'green shoots' fully matured before smoking them....but hey, that's just me.     

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#6) On June 15, 2009 at 10:24 AM, checklist34 (98.71) wrote:

do you get a good buzz from smoking green shoots, and is it legal to do so?

you might be onto something if both answers are yes

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#7) On June 15, 2009 at 10:58 AM, AdirondackFund (< 20) wrote:

Apparently, the Government has no problem smoking the green shoots...or was that the media that did that? 

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#8) On June 15, 2009 at 11:30 AM, russiangambit (28.80) wrote:

It is a veritable stampede to the exits this morning. NY manufacturing number wasn't spinnable, among other things.

I still think it still goes back to the GS comments last week.

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#9) On June 15, 2009 at 1:29 PM, StopLaughing (< 20) wrote:

Green Shoots

 G8 met over the weekend in a display of public theatre. The purpose was to discuss end strategies for unwinding the stimulus (yeah right). Iran has unrest so the $ is up and T-bonds strengthen (flight to quality). 

The govs are supporting the $ and the treasury markets for now. That is dropping gold, and the market. Iran is holding oil up. 

 Most importantly the S&P is holding above it's 50 and 200 MA lines and the 50 is about to cross the 200 which is a major Bull confirmation. A few more days of essentially sideways action will pull the 50 thru the 200. Unless there is a drastic drop, today's price action is basically profit taking and maybe a sucker move to pull in a few shorts.



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