– Durable goods orders were fairly strong again. Yeah, the headline figure was weak, but that was primarily driven by weak aircraft demand.
– Am I the only one getting concerned about the parabolic rise in the Hang Seng Index? This might very well be the leading indicator of all leading indicators. If an extreme bullish rise in the HSI doesn’t worry you then you might just have to start calling yourself a permabull.
– The insider selling stats shocked me. You would think by now that insiders are starting to buy the recovery hype….
– Everyone is all up in arms over this oil trader at Citi who earned $100MM, but what about Hank Paulson? This man earned $600MM for levering up GS and then leaving the firm when it was one recession away from total system failure. When are people going to start demanding that Hank Paulson give back some of the $600MM windfall he earned for nearly crashing the entire U.S. economy?
– ArcelorMittal, a global economic bellwether, says the economy won’t get back to its pre-crisis levels before 2011. Wow. CEO Lakshmi Mittal said on the conference call: “We were at a very low level of economic performance … (so) to reach the pre-crisis level it will not be before 2011.” Talk about a slow recovery….