Preparing for the Fall, Part II - Graham Summers

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Preparing for the Fall, Part II
Jun 09, 2008 04:16 PM UTC

Graham Summers

Return	Risk
+6.09%	MID

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Symbol	Sentiment	Start	Return	Closed
DJI		06/09/08	+100.00%	--
SPY		06/09/08	+19.54%	--

Via Short Stock Ideas from Seeking Alpha:

In Friday’s essay I warned that stocks were headed for an ugly autumn. Looking at Friday’s action—the S&P 500 fell 3%— it’s possible the trouble is already here.

As I’ve mentioned several times on these pages, the market rally post-Bear Stearns was largely facilitated by phony economic data courtesy of the US government, the Federal Reserve pumping dollars into the system like there’s no tomorrow, and dumb money piling into stocks, thinking the worst is over.

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