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December Durable Goods Missed By a Mile, Market Angst Reasserts Itself
Submitted by John Bougearel, of Structural Logic
excellent overlay of price action over funny-mental time-line.
Oh boy...good old German angst. I
suggest we save all the angst for
when we reach "fair value", which
Grantham (and most other reasonable
folks who are now defined as raging
bears) thinks is somewhere around
S&P 850. And fair value of 15X ain't even
cheap historically.....wtf are we
doing up here 20% above that in the
diciest economy of the last 80
years. Idiot banksters, idiot Fed,
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