tuesday worry, page-3

P., good banking chart on previous thread. Someone wrote this morning that the new effort by the usa banks to 'unfreeeze the credit system' is really just a system that allows them to shift the liabilities around, thus continuing to hide their real losses. And I doubt that the usa fed will cut rates again. There are now several analysts saying the previous cut was unnecessary (whats new.. we knew it was a bank bailout by the biggest bank), and the G7 finance ministers are pressuring Paulson to stop the slide in the usd cos now that is threatening their prosperity. On top of that of course is the price of oil in usa. All the economically sensitive stocks (transports and consumer discretionary) fell quite hard last night. One prominent company fell the most since the crash in 87 (those 87 echoes continue). The rise in commodities also signals higher inflation. CPI due out in usa this week as well. Data showing money flows into and out of usa investments from os also out tonight. US equities are in the diabolicals and sooner or later the veil will be lifted.. someone will start selling.. theres low demand so relatively light selling pressure should see a major fall in the market. SPX meanwhile has tested its uptrend line and has held just above it. Can't see it holding... especially if bbankie is forced to stop printing the dollars that are being used to prop up markets. Elections in aussie but the Peoples Congress is also about to meet in China amidst signs of growing social unreat. Me, I have a hankering to turn on the tv one night and see queues outside citibank extending about 20 blocks..