The Phaserl


Oops! Existing Home Sales Drop – More Bad Economic Reports Today

by Dave Kranzler, Inevstment Research Dynamics:

IF YOU DON’T OWN GOLD, YOU KNOW NEITHER HISTORY NOR ECONOMICS. – Ray Dalio, Bridgewater Associates (one of the largest hedge funds in the world beside the Fed)

I’ll have LOT more on the matter of existing home sales sometime in the next 24-36 hours. But suffice to say that the stock market bubble bulls were looking for April existing home sales to come in at an SAAR “seasonally adjusted, annualized rate” of 5.22 million. Not only did it miss that number badly, being reported at 5.04 million, but it was a 3.3% drop from March.

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