Sunday, Aug 30, 2009
Second hand toilet paper bubble drives stock market rally....
Zero hedge: Five Financial Stocks Dominating Market Volume
Since the beginning of July, the most prominent feature of the market has been the divergence in volume between financials and "all other" stocks. While overall stock market volume has been flat if not down over the past two months, and a continuation of a long-term downward trend since the March ramp up, the volume in financial stocks has staged an unprecedented pick up.
As the chart below demonstrates, five primary names have been responsible for the bulk of the volume in not just financials but across the entire market. The five stocks are Citi, AIG, CIT, Fannie Mae and Freddie Mac.
Posted by roy @ 12:47 PM (715 views) Add Comment
4 Comments
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1. rotten tomato said...
This clearly demostrates the validity of physical economist Larouche's triple curve function. The real productive economy is tanking, while the toilet paper financials are climbing. This rise in their stock values is only one facet of the bubble inflation of values, however when even this bubble will again be pricked, then the real economic situation will come to the fore.
2. the number cruncher said...
'while the toilet paper financials are climbing' So well put RT. How I weep at the dead babies in the poor hospital wards, the old ladies dying of hypothermia and My son's taxes, in the years to come. All paying for the shareholders of the financial industry to get their shirts back on the backs, spives in investment banks and house prices to remain high. Ccapitalist kleptocracy fiddling the books yet again and making sure the free market is nothing but a pipe dream.
3. will said...
When the fed stops pumping money into these institutions - then the stock market rally will falter. They can't tell us the recovery has begun whilst intervention continues and interest rates remain at historical lows. It all has to be paid back!
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