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 …
No Load Fund/ETF Tracker updated through 5/1/2008
My latest No Load Fund/ETF Tracker has been posted at:http://www.successful-investment.com/newsletter-archive.phpOur Trend Tracking Index (TTI) for domestic funds/ETFs has moved now +1.34% above its long-term trend line (red), which means we remain close to breaking out to the upside of the neutral zone (+1.50%). The international index dropped to -1.17% below its own trend line, keeping us in a sell mode. …
Breaking Out To The Upside
In a reversal from yesterday, the markets opened higher and never looked back with the S&P; 500 closing above 1,400 for the first time since January. Financials provided leadership, as energy was knocked lower by a drop in oil prices. The dollar rose and the Commodity Index was pushed to its lowest level in 4 weeks. Gold dropped as well …