The Euro-zone has been hit hard by the collapse in global trade, with exports declining by almost 30% from their peak last year signs are that exports may be picking up again, especially to China and India.
We thank Goldman Sachs for this news.
They also report that:
New jobless claims dropped to 565,000 in the week ending July 3, after 22 weeks above the 600,000 mark. Along with some stabilization in the total number of jobless claimants in recent weeks and a sharp decline in layoff announcements over the past few months, this news offers hope that the worst period of job loss is finally coming to an end.
Now, I disagree.
The new jobless claims are dropping because less people are entitled to receive money from the government. So don’t get fooled…
And this one came from Sillvio Berlusconi himself:
"Everyone was of the opinion that the G-8 isn’t any longer the most ideal structure for dealing with the governance of the world economy,"
Now something else.
Last week I made a mistake. I mentioned Hewlett Packard, but put on the wrong graph. I apologize for this and take another look to this stock.
The point-and-figure chart of HP (ticker: HPQ) was showing a break out. However, one week later the price is going down. One other bad day and this break out will fail.
Our renko chart nails the real nature of the activity of this stock. And the technical story is negative. As we can see here.
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