Saut: The Economy is in a Self Sustaining Recovery

video via Yahoo Breakout

• Jeff Saut of Raymond James doesn't have a sell signal on Dow Theory
• Hasn't broken through signal areas and doesn't see it
• Any correction will be limited to 7 to 10 percent
• Earning better, credit  is easing, yield curve in good shape
• Does unemployment matter?  Corp profits are leading indicator and they are good
• labor arbitrage back to US
• supply chain in Japan will cause soft spot
• QE3? More easing, should go to housing and employment?  No QE3, economy will grow.
• QE3 if weakness continues, but will they call it that? Will support economy
• Is there a second tier econ stat important.  No take it in aggregate.  Only a soft spot and economy will regear itself.