Thin trading volume. Here is why:
By Daniel at 25 November, 2009, 7:31 pm
“WASHINGTON (AP) — Bankruptcy filings in federal courts jumped by more than one-third this year, as businesses and individuals struggled to regain their footing in a weakened economy.
New numbers from the Administrative Office of the U.S. Courts show about 1.4 million bankruptcy cases were filed this fiscal year. That’s up 34.5 percent compared with the more than 1 million cases filed last fiscal year. The bankruptcy figures cover a period from Oct. 1, 2008, to Sept. 30.
Filings under Chapters 7, 11, 12 and 13 all rose — particularly filings for Chapter 11 protection, which increased 68 percent. Overall, business filings were up 52 percent, while nonbusiness filings rose by 34 percent.”
This article flies in the face of the rose colored glasses environment which Bulls are trying to paint with their “better than expected” and “less jobs lost” approachs to “analysis”, market hype and prognostication.
One day, soon, those purveyors of “all is well” will bruskly awaken to find out that 1931 has just restarted. The “M” shaped recovery will shock them back into reality. “
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