You Are Not Alone
From Jack McHugh via The Big Picture:
To the list of firsts previously set during the 2007-2009 bear stock market, we can now add the Chapter 11 filing of a current Dow component, the steepest 2-10 year yield curve in history, and the largest monthly gain for commodities prices in a quarter century. In response to these tidings, the S&P 500 is now at a 7 month high, some 41% off its March low. Since many institutional investors have been caught underexposed to their benchmarks, and since the S&P looks like it has broken out of its May trading range to the upside, it is quite within the realm of possibility that the S&P makes a run at 1000 — a level fully 50% above its March nadir. If you are having trouble making sense of the current environment, you are not alone.
2 Comments »
RSS feed for comments on this post.
Leave a comment
Line and paragraph breaks automatic, e-mail address never displayed, HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>
Credit card stocks looking weak today. They might be finally getting ready to tip over. However, using todays logic I suppose they will rally another 20%?
Comment by Randal — 6/2/2009 @ 11:41 am
No point in trying to use any logic at all. It rarely, if ever, works where the market is concerned.
Comment by BMB — 6/2/2009 @ 12:19 pm