Cotton Prices Show Sharp Drop on USDA Supply Revision

Bloomberg: "Cotton futures fell the most in seven weeks after the U.S. government increased its projections for the world crop."
NEW YORK, July 11 (Reuters) - The U.S. government raised its forecasts for U.S. cotton inventories on the back of reduced export estimates in the current crop year and upped its projections for ballooning global supplies amid higher output and falling consumption.

 

Bernanke Affirms Easy Money Forever

Dow is up 110 pts despite that we had the highest surge in claims for unemployment in 2 months. Ben Bernanke's speeches have more impact on the financial markets than reality.

Bernanke's Dollar Reversal

The dollar went from a strong uptrend to a strong downtrend in a few minutes, thanks to Bubble Bernanke! Here is another view:

Macro Data Declines Even As Stocks Rise

source: Bloomberg

Focus on Fantasy

Wall St is now living in earnings fantasy land. But the futures are up sharply again overnight.

Here is a chart of earnings forecasts over the past few months. Does this look like it justifies stock market price levels that we are seeing now?