Hope for a follow-through day is fading in the face of more and more layoffs, reduced earnings expectations, slower sales, disappearance of the consumer. If we really had a successful test of the lows yesterday then we must have a follow through day within the next four trading days. Without confirmation we are headed lower.
I love Kuwait’s solution to falling stock prices: close the exchange.
High end consumer retailers dropping prices. Chanel, Versace and others having unheard of sales. Makes me want to short Tiffany, Coach, Best Buy and Nordstrom. Retail sales numbers this morning the worst drop on record.
A must read. Here, again, is the link for the terrific Michael Lewis article in Portfolio Magazine. Click here.
Watch for capital infusion news from G-20 this weekend.
