Bear Mountain Bull

It’s time again for a little BMB R&R, especially with the market behaving as bizarrely as it’s been. Maybe if we stop watching it start to behave a little better…

Posting will be very light and variable over the course of this week, but we’ll put up an open thread each market day for our readers to comment on the day’s market activity or to post any interesting links they might run across.

Check the space below for whatever the latest might be during this ‘off’ time, and please visit the various sites in the ‘Links’ and ‘Regular Stops’ for up-to-date market news and analysis.

BMB will be back in full swing by next weekend.

Bill Fleckenstein says that the recent selling in the precious metals and the associated mining stocks is likely overdone. It sure seems overdone to me, but what do I know? I believe that the selling in other commodities and energy stocks is overdone too, but the market seems to disagree at this point.

And Fleck passes along this nugget of investment wisdom:

Obviously, if you don’t learn from your mistakes, you eventually won’t have any money with which to invest. To quote noted market observer Ray DeVoe: “Good judgment comes from experience, but experience comes from bad judgment.”

Or, I might put it this way: Good judgment comes from bad judgment. It’s a bit like lifting weights, in that you gain through pain.

Items of note on the latest industry moves:

• All groups in the green this week.
• Health care stocks and utilities, the groups that have been holding up the best, were the laggards this week.
• Energy and other commodity stocks remain under pressure.
• Transportation stocks get a boost as oil prices stay down.
• Retailers jump on who knows what. Obviously the market thinks the consumer will continue to spend.
• REITs have continued to be strong and housing stocks bounced back as interest rates remain incredibly low.
• Many tech stocks have gotten nice bounces off their lows.