There have been so many stories and blog posts about the events of this past week that it’s hard to keep up. Mish at Global Economic Trends made several references, but here is one short synopsis that sums it up: This is a historic day for financial markets as the free market system has effectively been put on hold. The …
No Load Fund/ETF Tracker updated through 9/18/2008
My latest No Load Fund/ETF Tracker has been posted at:http://www.successful-investment.com/newsletter-archive.phpA market crash was avoided due to government intervention. Our Trend Tracking Index (TTI) for domestic funds/ETFs remains below its trend line (red) by -2.04% thereby confirming the current bear market trend. The international index now remains -8.48% below its own trend line, keeping us on the sidelines. For more details, …
A Bridge To Knowhere
Yesterday appeared to be an “in your face” day as the markets responded with another sharp drop to the downside in response to the Fed/US Treasury announcement of a $85 billion loan to one of the living dead, namely AIG. I think Wall Street is finally seeing beyond the futile government attempts to prop up failing companies in order to …
Another Money Fund Breaks The Buck
The markets had another volatile session yesterday with swings from high to low of some 300 points on the Dow. The Fed’s refusal to lower interest rates pulled the major indexes sharply lower, but buying resumed and we closed in positive territory. The only reason we closed higher was when the remote possibility surfaced that the Fed/US Treasury was considering …
A Black Monday
A few weeks ago, I mentioned in a conversation with a client that I would not be surprised to wake up one morning and find the Dow down some 500 points. Well, it did not start out that way yesterday, but we ended up with a drop of 504 points. Of course, the news all weekend was focused on Lehman …
What’s Next?
With the markets having been in a tizzy fit all year, with no signs of imminent change apparent, investors and traders alike are having difficulty making sense out of the violent swings and unprecedented write-downs due to assets having gone sour. Reader Steve had this to say: I have been following your Blog and commentary, thanks for the good advice …