With the Dow at a three month high...it could be a short play.
The economic numbers simply will not be that good going forward...
The real estate market is like someone cried fire in a crowded theatre...everyone is heading for the exits all at once... Many "flippers" are getting flipped by their mortgages.
And the ARM crowd and other "creative" financiers of real estate are only now starting to realize the magnitude of their problems.
The doors to the bankruptcy courts have been nailed shut by the Republican K-Street Kongress...so the banks have the American Debtor trapped like a rat.
And I simply don't believe any "positive" spin coming out of Walmart or any of the other corporations that are dependant on spending by "ordinary" Americans.
The jobs number will be punk again...the only question is how punk... Everyone knows there are no "real jobs" out there... And huge numbers of people are dropping out of the labor market because of it.
This market will try to rally after Labor Day...so a little sell off now would be in order.
Any rally into the Labor Day holiday would put the Dow in screaming short territory...of 11,500...
And sooner or later someone will pull the plug...
