Total 180 on economic data puts some kinks in the perma-bull outlook of this fantasy V bottom recovery.
Everyday I read about the consumer revolt against credit card rates rising. Across the board people are getting slammed by rising rates by these worthless companies that we bailed out. Thanks a lot! You would think that for us saving their asses we would at least be thanked by keeping credit affordable and flowing but no!!!. They jack rates up to levels that loan shark charge. I wonder if there was a leg breaking clause in my loan agreement?
People have to look at this as a possible serious headway for a strong recovery. People retract when events like this happen and save to pay off loans not spend.
Trading wise still very bullish on AONE. I think this becomes like my last winner. CYOU which by the way I am done with. It has lost it's mo mo after the GAME ipo debacle. AONE has the story. Sure it is spec but I love a good new issue story.
Today did some HIG scalp on the bounce after the initial market hit. Also, have some AMSC from last week. That looks higher on the daily. That is if this market doesn't rollover and die. I am worried about Friday if those numbers come in weak. That might be the catalyst to roll the market into a correction.
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