If "cynicism" is a view of reality and truth, then "hope" is nothing but fantasy and faith - Dave in Denver...Most of you have seen or will see the media headlines broadcasting a big October for new home sales. But as is normally the case with numbers put together, manipulated and released by the U.S. Government, the report is full of serious flaws. Not only that, but if you really dig deeply into the actual monthly numbers and also consider the extreme degree of downward revisions that have been applied since at least July, the new home sales report is downright ugly. And that's not cynicism, it's fact.
It just so happens that I did the above analysis and laid out the data, facts and source citations in this article just published: Today's New Home Sales Report Is Very Bearish.
Please note that the stock market agrees with my take on the numbers, as the Dow Jones Homebuilder Index is down 1.5% right now and 2.3% from its initial spike after the report hit the tape. Furthermore, the stock market, after a big spike higher on the new homes report, is now down 10 pts as measured by the S&P 500 futures contract (front month) and 1% from its high of the day.
Be careful out there with your investments in the stock market. We are witnessing a bubble in stocks that exceeds the one in 1999 that led to the collapse in early 2000. I will note that the dollar has taken a big turn down today and gold and silver are having their best day in several weeks, with silver up over 4% and gold up 2.2%. Something ain't right out there behind the scenes.
...The power of accurate observation is commonly called cynicism by those who have not got it - George Bernard Shaw