Stocks Bull Market New 2010 High, Weeks Featured Analysis
Stock-Markets / Financial Markets 2010 Jan 10, 2010 - 08:29 AM GMTBy: Nadeem_Walayat
Britain is again on the brink of economic and social collapse as the country faces its greatest crisis. well since last year, the new crisis is the Salt Crisis! As the country runs out of salt to grit the roads, with government ministers in a state of panic sending their dominions out into the lands supermarkets to buy up stock. The Royal Navy on the high sea's has been sent instructions to intercept salt shipments to other European countries with the army also being placed on high alert as mobs mass outside supermarkets attempting to get hold of the last few packets of salt. Okay so a slight exaggeration but it must be amusing to the peoples of north eastern europe of how a few snow flakes can bring Britain to a shuddering halt in a matter of days.
Whilst Britain freezes, the stocks bull market shrugged off bad U.S. jobs data to notch up a new high for the year hitting Dow 10,619 Friday, whilst the bears who missed the bottom continue to hope / pray for a crash / plunge back towards the March bear market lows.
I see a some bearish analysts have started to abandon hope and conclude that the Stock Market must be being manipulated higher. Which is something that I strongly, specifically and unequivocally voiced right at the birth of the stocks stealth bull market way back in March when investors had an opportunity to monetize on one of the greatest bull runs in history in the face of the prevailing bearish mantra of a bear market rally who's demise was always imminent.
The key point to recognise is that economic data, fundamentals and corporate earnings projections are IRRELVENTANT AT IMPORTANT MARKET JUNCTURES. Instead perma-analysts more interested in producing copy for print have a tendency to regurgitate the big media names points of view on the old bear market trend these past 9 months as to why it's end was surely always imminent much as we may read in today's press. Much as Deflationist are about to receive a smack in the face as inflation soars during he first few months of 2010, though because of the 'perma' mindset will continue to argue the deflation case by DISMISSING in your face Inflation data and instead focusing on obscure data sets that no one but the Deflationists pay any real attention to so as to support a delusional point of view.
My current focus is on completing the important UK interest rate in depth analysis and forecast due to be emailed out on the 12th of January (always free newsletter). After which my focus will shift to the inflation mega-trend ebook, UK house prices and then the stock market.
In depth analysis and forecasts completed for 2010 and beyond so far -
31 Dec 2009 - UK Economy GDP Growth Forecast 2010 and 2011, The Stealth Election Boom
UK Strong Economic Recovery 2010 +2.8%, Q1 2011 peak of +3.4% (year on year), 2011 End +2.3%. Q4 2009 +0.6%, Q1 2010 +1.1%. Q2 2010 + 1.3% Election Boom. Q3 2010 +0.9% Q4 2010 +0.6%, NO Double Dip Recession, NO Negative Quarters for 2010 or 2011.
27 Dec 2009 - UK CPI Inflation Forecast 2010, Imminent and Sustained Spike Above 3%
I expect UK inflation as measured by CPI to break above the Bank of England's upper CPI target of 3% very early in the year, and stay above 3% for most of the year only coming back below 3% late 2010 as a consequence of the next governments attempts to bring the unsustainable budget deficit under control.
Your focused analyst freezing his proverbial's off.
By Nadeem Walayat
http://www.marketoracle.co.uk
Copyright © 2005-10 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.
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