14000 Dow -- iPhone Euphoria -- Fast Money Contributor Worried

The media seems to have traded in attention to the iPhone for the 14000 mark on the Dow. Both are hype. Euphoria in the market is about to face the impact of Intel and Yahoo numbers as well as the sub prime. All this is a recipe for trouble. Just watch the media turn on a dime.

The media seems to have traded in attention to the iPhone for the 14000 mark on the Dow.   Both are hype.  Euphoria in the market is about to face the impact of Intel and Yahoo numbers as well as the sub prime.  All this is a recipe for trouble.  Just watch the media turn on a dime.

The economy is just not that strong.  The market is in a state of denial, and the signals are there for a significant move down.  This article summarizing a conversation with Bill Fleckenstein on Fast Money captures the issues and the worries especially well: 

http://www.cnbc.com/id/19812025

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Comments

  • Anonymous

    July 18, 2007

    Today may be the day!

  • Anonymous

    July 18, 2007

    I don't know if it will be today, but it sure will be soon.

  • Anonymous

    July 18, 2007

    Fleckenstein isn't a fast money contributor - he is a permabear and has been bearish since the beginning of time.

  • Anonymous

    July 18, 2007

    Yes, but bears are right some of the time. And, he was both lucid and convincing when he appeared on Fast Money.

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