Wed March 30, 2011
Wed March 30, 2011
We will post out Tuesday update tomorrow; it is long term view using one stock of where this market really is in terms of recovery. Stay tuned for that. In the mean time from the news today
In India Doubts Gather Ovewr Rising Giant's Course, WSJ 3/30/2011 Page A1
In recent months, the mood in teh planet's most populate democracy has soured badly - to the point that some of India$'s richest people have begun to complain that things are seriously amiss.
Observation Social mood is determined endogenously, from within a person not from outside sources. We pegged the Bombay Exchange as topping last November and said so right here. Now it is front page news that the mood has changed. Bear markets also happen in fractrals. Here is more evidence it is underway. Actually Jim Rogers in his round the world tours predicted that India would have lots of problems, too muchy red tape, too much bureaucracy. Indeed this article reports China has added ten times as much power as India has in the same period of time. The Article bylines, Flawed Miracle.
ON page C3 Trump's son in law is over his head in the most expensive property ever purchased, $1.8
billion at the time. Now he is $3.5 M a month short on the payments.
Observation How many building like that are still out there?
On page C11 REITS Make and About Face. Because of the bad news globally in the last sixty days, companies are thinking twice about making large space commitments.
Observation An REIT meltdown was a prominent feature of the 1973-74 bear market.
Has anyone noticed that gold and gold stocks look a lot like a distribution pattern since November?
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