Daily Investment Interpretations
December 15, 2008
The markets fell today just about exactly as much as they rose on Friday.
The NASDAQ Composite dropped 32.38
(-2.1%) to 1,508, the Dow
declined 65.15 points (-0.75%)
to hit 8,565, and the S&P 500 shed 11.16
points (-1.27%) to close at 869.
Oil closed down $1.77 at $44.51,
while gold gained $16 to $836.50. The VIX rose 2.48
I reported on Friday 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."
Maybe. Maybe not. The news is unremittingly bad. Of course, stock markets traditionally turn up when they seem most justified in turning down.
Meanwhile, we wait.
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