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Tuesday, June 29, 2010

Judging By The Reaction To Consumer Confidence

The bulls are extremely nervous. True, Conference Board Consumer Confidence dropped almost 10 points, but the regional pattern indicates that at least some of this was due to the oil spill, and what did everyone expect?

Anyway, the rest of the week is going to be rough, because I don't think most of these reports will provide much in the way of bull fodder, and I expect the employment report to be poor.

T-bills are winning again. If you were planning to buy stocks in the second half, it looks like your day is rapidly coming.

Edit: Massive changes on oil/gas.

Japanese household spending was disappointing, and neither Chinese economic news nor the "actions" are helping the mood.

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