Daily Reading on the Financial Markets: 10/28/11
Michael Gayed, at Seeking Alpha, who called the meltdown, has been suggesting a fall melt-up would follow, and he says it’s not over yet.
Taking the other side, Jason Haver at Minyanville thinks we are nearing the top of the 2nd wave (in Elliot Waves) of a nasty downtrend.
Cullen Roche at PragCap comments on the global government put under the markets, and why you shouldn’t fade government intervention.
Zero Hedge notes that personal savings rates are back to the levels of 2007.
To wit, Doug Short notes that increased personal expenditures made up a large percentage of the strong Q3 GDP number.
Tony Pallotta remains unconvinced by the technical “breakout”, and sees cracks appearing in the EFSF plan.