On April 3rd I wrote a bulletin cautioning that the recent behavior of the stock market (new highs but with fewer stocks participating) was characteristic of market tops. The market subsequent declined for three days before turning around sharply and…
A few thoughts about the various asset classes: Stocks Occasionally we hear the old saw, “It’s not a stock market, it’s a market of stocks”. This is designed to remind us that the market as a whole should have…
Stock Market Perspective Domestic Stock Market The proximate cause of the recent market declines seems to be the “fiscal cliff” or the combination of tax increases and government spending cuts set to take place at the beginning of 2013. In…
Stocks have done fairly well in recent weeks. I would like to be able to tell you with certainty why but I would only be guessing. Here are my best guesses: 1) Anticipation of coordinated Central Bank policies to stimulate…
July Unemployment: Fourth consecutive disappointing report. The trend is confirmed. This is going to put pressure on the Federal Reserve to come up with something, though nobody is really sure what they could do. The “half-life” of any central bank…