Featured in Richard Suttmeier’s Stock Strategies Blog on EQUITIES Magazine Website
Richard Suttmeier’s latest post,” Stock MOJO Trumping Housing and Banking Issues”, addresses the loss of Home Builder confidence, the problems surrounding “too big to fail” banks, credit card write-offs, and the continuance of the MOJO stock market.
The National Association of Home Builders Housing Market Index slipped a point to 18 in October as the expiration of the first time home owner $8,000 tax credit draws near at the end of November. Any home sales made today are unlikely to close by the end of November, which indicates that new first time buyers will not likely reap this benefit.
Meanwhile, “too big to fail” banks such as Citigroup, JP Morgan, and Wells Fargo have asked banking regulators not to implement higher capital requirements that are scheduled to arrive next year. Credit card losses have ballooned to $84.4 billion and defaults track unemployment, which is now 9.8% and projected to rise further.
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About Richard Suttmeier:
Richard Suttmeier’s latest blog analyzes earnings from Intel, the most important technology stock, JP Morgan Chase, the most important “too big to fail” bank, and break-out’s for Comex copper and Nymex crude oil.
Richard Suttmeier is the chief market strategist for ValuEngine.com. Richard is an industry leader on the housing market and banking system and writes a newsletter covering The Great Credit Crunch. He produces a List of Problem Banks by name. He produces daily and weekly briefings covering the US Capital markets. Richard Suttmeier’s ValuEngine Four In Four video is available on forextv.com.
About EQUITIES Magazine:
Since 1951, EQUITIES has served both retail and institutional investors by examining industry trends, analyzing strategies and opportunities, and profiling financial leaders and emerging public companies. Its global audience increased dramatically after the launch of its European and digital versions, as well as its website, which provides free real-time market quotes and a free customizable, real-time portfolio-management interface. EQUITIES is also one of a select group of publications available on the Apple iPhone.
