WARNING: Pessimist Pete is posting here, so if you're in a good mood you may want to leave this site!
How bad is it going to get?? New homes sales: DOWN! Durable Goods Orders: In line, but DOWN 24% YoY! Consumer Confidence: DOWN!
Even Goldman Sachs got into the game by revising its GDP forecast to 2.7% from 3.0%. Of course, the question there is what does GS know that the rest of the US doesn't know. Seems kinda odd that GS would come out with a revision knowing the Government release is in less than 24 hours. Did O'B & Co. tip off the guys at 85 Broad Street?!?!?
More later.
Talk to you,
Todd M. Schoenberger, Managing Director
LandColt Trading, LLC
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