Heavyweights Apple and IBM beat Street estimates yesterday, but it wasn’t good enough to appease the investing community. Subsequently, shares sank in afterhours trading, although the market had risen prior because of high expectations. To see how nutty market reaction can be, you only need to look at how Citigroup was cheered, even though their real earnings were dismal but …
Daredevil Central Bankers
Have bankers’ attitudes changed? MarketWatch seems to think so as featured in “Get ready for daredevil central bankers:” We have come to expect our central bankers and policy experts to be gray, predictable and eager to take away the punch bowl once the party gets going. So when they showed up at the Boston Fed conference on monetary policy in …
Out For The Day
Some family obligations in Hamburg, Germany, along with a few unexpected visitors, will be filling up my Sunday; so there will be no post today. The regular update of this blog will resume early on Monday.
Trillion Dollar Deficits
MarketWatch featured a story with the intriguing title “Monetizing all the debt, all the time:”The oracles at Goldman Sachs Group say that $750 billion of quantitative easing is priced in to the market, and possibly $1 trillion — a frightful prospect that was hardly diminished by last week’s lost jobs report.On top of that, there’s $300 billion to $400 billion …
No Load Fund/ETF Tracker updated through 10/14/2010
My latest No Load Fund/ETF Tracker has been posted at: http://www.successful-investment.com/newsletter-archive.php No matter what the news, the major indexes only seem to know how to move higher. Our Trend Tracking Index (TTI) for domestic funds/ETFs moved above its trend line (red) by +6.62% (last week +6.88%) and remains in bullish mode. The international index has broken above its long-term trend …
Recovery Hopes
The futures were right, as I mentioned in yesterday’s early morning post, and the markets picked up the momentum from Europe and galloped higher, although they closed well off their highs for the day, as the chart above shows (courtesy of MarketWatch.com). One of the reasons for the pullback was increased uncertainty caused by problems with home foreclosure proceedings. It …