Main Street/Wall Street

“Initial jobless claims climb to 484,000”
“The number of workers receiving extended federal benefits rose 161,101 to 5.97 million”
“All told, 11.08 million people were collecting some type of unemployment benefits in the week of March 27th”
- CBS Marketwatch 4-15-10

“The heavy concentration of bullish strategies among all classes of traders pushed the Option Speculation Index to another recent high…., the only comparison in history that we have are the weeks around the peak in the Spring of 2000. The last time we were here, the tech bubble was about to pop, and result in 50% losses for the NASDAQ virtually overnight. This time around, this is not a tech isolated bubble. This is a global bubble funded by the endless money printing. When it pops, it will take down every asset class with it.”
- The Sentiment Trader 4-12-10

“Recovery picking up steam”
- Ben Bernanke 4-14-10

"U.S. homebuilders grow more optimistic in early April"
- National Association of Homebuilders 4-15-10

“Foreclosures soared to 367,056 in March, up 19% from February, 8% higher than March of 2009 and 56% higher from March 2008 according to the foreclosure data specialist RealtyTrac.”
- The Atlanta 4-14-10

“A vast majority of technical indicators such as the CBOE Volatility Index, Investors Intelligence Advisory Survey, CBOE Equity Put/Call Ratios, Daily Sentiment Index, and the thirty-day NYSE Trin, are aligned at or near extremes. We have a very long history with these indicators and their message is bearish. It is nearly the exact opposite extreme to that which occurred in the first few months of 2009.”
- Elliot Wave Financial Forecast Services 4-14-10

“Regardless of the reality…..what matters most for the direction of the stock market is to determine how everybody FEELS about it. "
- Nick Godt (CBS Marketwatch) 4-15-10

George Soros, speaking at a meeting organized by “The Economist” warned all those who are throwing their money into the equity pit that “the financial world is on the wrong track, and that we may be hurtling towards an even bigger boom and bust than in the credit crisis.”

Till next time,

Bill


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