Daily Investment Interpretations
December 12, 2008
The markets rose a little today, with the Treasury Department okaying the
deployment of a few billion $ in Bank bailout funds for the Big Three. The
NASDAQ Composite rose 32.84 (2.18%)
to reach 1,541, the Dow increased 63.8
points (0.75%) to hit 8,629,
and the S&P 500 tacked on 6.15
points (0.7%) to end the week at 880.
Oil closed down slightly at $46.53, as did gold at $820.50.
The VIX fell 1.5 to 54.28.
So where do we go next? are we in a primary bear market or are we in a primary bull market? The Aden sisters say, "Watch the Dow industrials.... it'll be positive above 8,900, but if it rises above 9,000 and then 9,600, the rebound rise will clearly be under way."
In that vein, it's also worth noting that yesterday's (Thursday's) Cabot China and Emerging Markets Report has this to say, "The market is tantalizingly close to flashing us a new buy signal, but it's just not there yet. If the market cooperates, we could get a buy signal within a few days, and we'll be off and running!" So we might be back in the Chinese market within a fortnight.
Outside the Box:: Stocks are cheaper, but still no bargain