Amazingly, today’s rebound was based on nothing but hope that the Fed’s Bernanke will pull another rabbit out of the hat this Friday via the mother of all stimulus proposals, which will solve all that ails the world. The amount of bad news was small enough to stimulate markets around the globe in anticipation of what the Fed might come …
Misery For Equity ETFs; PRPFX Hedge Gains
The markets took another nosedive today as Morgan Stanley warned about a global recession, which caused 10-year Treasury yields to drop below 2% as the flight to safety continued. As a reader of this blog, the dreaded “R” word (as in ‘Recession,’ not in ‘Recovery’) should be a familiar tune, as I have commented about this very possibility for quite …
Weak Economic News Drag Down Equity ETFs
Weak economic news proved to be a drag on equity ETFs as Europe’s main engine, Germany, just about stalled in regards to second quarter GDP. Domestically, housing starts in July were nothing to brag about. German and French leaders proposed to better coordinate financial planning and to enact a tax on financial transactions. Lovely; I wonder if there ever will …
Major Market ETFs Surge On Buyout
The markets stayed in rally mode for the third day in a row, supported by rises in Asia and Europe, along with the announcement by Google to buy Motorola Mobility. The major Market ETFs have now recovered all of their losses since the U.S. debt downgrade on August 5. Despite this bit of euphoria, the problems that prompted the downturn …
The Roller Coaster Ride Is Alive And Well – Major Market ETFs Rebound Sharply
Another breathtaking day in the market, this time on the bullish side, pushed the S&P 500 exactly back to Tuesday’s level. A modest rebound, fueled by better jobless claims and no bad news out of Europe, turned into a monster rally as short covering proved to be the catalyst to wipe out Wednesday’s losses. Of course, as we have seen …
Another Wild Ride For Equity ETFs
If the market swings and this enormous volatility leave you speechless, you’re probably not alone. Based on today’s market activity, yesterday sure looked like a dead cat bounce. Contributing to the negative bias were recession concerns at home and the ever worsening debt crisis in Europe, for which there simply is no painless solution. This is the type of market …