Happy Thanksgiving, America!
If you’re not feeling very “happy,” remember, no matter how bad things are, they could always get worse (and we may be going there). So, whatever you have now, be thankful for that.
Speaking of thanks and of things getting worse, here’s a shout out to the so-called “Super Committee:”
Thanks for nothing!
What a bunch of losers.
Hmmm, speaking of losing… I wonder if anyone on the Supercilious Committee shorted the market before their announcement that they had nothing to announce. Hey, maybe they waited until the end of the day on Monday – when it was already known that they had sold America short – to break the news, so they could add to their shorts as stocks broke support levels.
No “maybe” about, it in my book.
Oh, you don’t think they would do that – short the market? You think that would be unethical? You think that would be illegal? You think that’s insider trading?
It’s not any of those things, according to Congress.
If you’re about to sit down to your big Thanksgiving dinner and are scared you’ll eat too much, don’t worry. You’re about to lose your appetite, and probably get sick, too.
Don’t say I didn’t warn you…
“Can I be honest with you?”
I hate it when people ask me that. As if I’m going to respond, “No, lie to me.”
But the truth is, it’s usually a preface that suggests we’re not going to want to hear what we’re about to be told.
So… can I be honest with you?
I have no idea what’s going to happen in stock markets or bond markets this week.
We are at a critical juncture for both stocks and bonds, and this week might be huge.
More truth after the break…
Have you seen the six-month price chart for the Dow Jones Industrials Average, the S&P 500, the NASDAQ Composite, the U.K. FTSE 100, the German Xetra (DAX), the Hong Kong Hang Seng Index, the French CAC 40, the Milan FTSE MIB, the Australian S&P ASX 200, or the Shanghai Composite Index?
I’ll make it easy for you.
If you haven’t seen any of them lately, check out one of them – any one.
It doesn’t matter which one, because – really frighteningly – they all look remarkably alike.
Talk about dangerous liaisons!
Full story here…
For the past five weeks, it’s been treat after treat for bullish investors.
The “trick” will be seeing if it can last…
How sweet has it been?
The Dow rose 1,459.63 points in five weeks to end Friday at 12,231.11. The Industrials rose 3.6% last week alone. They’re up 14% in that short run, and we’re now up 5.7% on the year. The S&P 500 is also up 14% over the same timeframe, and the Nasdaq has been following dutifully.
The candy being held out has been the hoped-for resolution to all of Europe’s problems. Every little sign of forward movement burned the short tails of greedy bears hoping for a sovereign default and raging contagion.
On top of progress across the pond, earnings here at home have been another treat. Of the more than 300 companies in the S&P 500 that have reported third-quarter numbers, 71% beat analyst expectations.
The trick now will be seeing if it can last…