Daily Investment Interpretations

December 15, 2008

2008-12-15:  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 to 56.76.
    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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