Thursday, July 02, 2009

Frustration

I'm frustrated. The market is dropping today, but so is gold and oil. Why tons of deflationary news. First is job losses of 473K vs fairy-tale economist predictions of 363K. Off by a mile. Oh green shoots, where art thou?

Agricultural commodities were down limit earlier this week. Hotels are defaulting by the hundreds. 25% of homeowners are now underwater. Wages are stagnant. Car sales were down in June. Oh green shoots, where art thou?

Treasuries are the only thing up today. Oh green shoots, where art thou?

I might have to dump oil fast here. I think I will if it breaks below $24. I'm looking for TBT to go below $50, and will jump on it if it drops to $48.

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