Daily Investment Interpretations

July 10, 2008

2008-7-10:  Today, the markets rose enough to put them back where they were day before yesterday. The S&P 500 ended at 1,253.39, The Nasdaq Composite moved up to 2,257.85, and the Dow finished the day at 11,229. The VIX moved up a bit to 26.6. Meanwhile, the Aden sisters, who as of May 11th were upbeat over the intermediate term, have now become decidedly bearish, as described in Peter Brimelow's "Adens see the bear necessities", The Aden sisters are currently 30% invested in non-precious metals. They are suggesting a low at the Dow = 10,000 level, but don't rule out a Dow = 7,500 level. (Ouch!) Bottom line: now is a good time to be in cash.
    In the interests of balanced reporting, Mark Hulbert published on Tuesday the positive report that Mark Hulbert: Corporate insiders didn't sell into market's decline in June. Also, tonight, Mr. Hulbert observes that Mark Hulbert: Democratic presidencies aren't always bad for stocks.
    (It might be worth noting that the indices look as though they might be forming an intermediate bottom.)