Posted on 10/10/2012 9:58:26 AM PDT by blam
The Market Sell-Off Is Accelerating
Sam Ro
October 10, 2012
The stock market sell-off is gaining steam.
Last night, aluminum giant Alcoa and engine maker Cummins warned China was slowing more than expected.
China's the second largest economy in the world and arguably the world's most important source of growth.
(Excerpt) Read more at businessinsider.com ...
IMHO, it is still “risk off” time. We are near the high side of the market range of the last 24 months. Uncertainty is high (election, fiscal cliff, taxmageddon, middle east terrorism, oil, food prices etc. etc. etc.). “Risk on” may be 500 points lower that we are or so. Depends on what happens in 4 weeks.
Everyone with a brain is aware that politicians of either stripe are kicking the can down the road. To stay in power as long as they can.
The end game is coming. Can’t say when, but there will come a day when kick the can no longer works.
I bailed on the first trading day of 2012 (401k stocks). Every economic indicator in the news pointed to a slowing economy even back then. But the markets have rallied like I’ve never seen them before for the past nine months. Go figure.
Lesson learned. The markets have absolutely nothing to do with the economy.
Me too ... AA breaks 8 I'm all over that too ...
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