If you find the constant lack of direction and follow through that the market has been throwing at us maddening, you’re not alone. Yesterday’s broad retreat was a reminder again how fickle this market has become and that at any given time any event can derail the upward momentum. While we were within striking distance of a new domestic buy …
Upside Break-Out
Despite a sharp drop after the market opening on Tuesday (see chart), the major indexes recovered and closed higher with solid gains. In the face of $123 crude oil, and predictions of prices moving into the $150 to $200 area in the next 6 to 12 months, the markets resisted any sell off attempts. Our domestic Trend Tracking Index (TTI) …
Stupid Quote Of The Year
Leave it up to bankers, the main contributors to the mortgage crisis, to come up with the stupid and ignorant quote of the year (or possibly of the century). Reuters reports in “Bank of America-Countrywide to curb risky mortgages:” Bank of America Corp said on Tuesday it plans to stop offering some riskier mortgage loans after it finishes buying Countrywide …
Where’s The Bottom?
MarketWatch featured an article titled “Five signs the stock market has bottomed.” Here are some highlights: Are we there yet? That’s what investors want to know as they search for a bottom after six punishing months for stocks. People are understandably eager to be done with this downturn and see markets move forward. It’s a tough wish at a time …
Sunday Musings: A Moment Of Truth
There have been few business leaders in the past as outspoken as Lee Iacocca. I’ve enjoyed his books in the past and ordered his latest “Where Have All the Leaders Gone?” In the meantime, reader Kenny sent me an excerpt of that book, which probably resembles how a lot of people feel these days. Take a look and see if …
One Man’s View
Mish at Global Economic Trend Analysis reviewed the demographics of jobless claims and in his article he referred to the credit binge as follows: The structural problems created by a 25 year credit binge simply are not going to be cured by a two quarter recession that Paulson and other economic cheerleaders will not even admit has started. Peter Bernstein …