Daily Investment Interpretations
April 16, 2010
Dow tumbled triple digits today: Goldman spooks the Street. The NASDAQ Composite
to close at 2,481.26, the Dow dove 125.91
to 11,1018.66, and
the S&P 500 added
a meager 19.54
to close at 1,191.16. Oil moved down sharply to $82.97 a barrel,
while Gold plummeted $23
to close at $1,138.
The VIX leaped 2.47
The markets apparently tanked today on news that Goldman Sachs has been charged by the SEC with outright, deliberate manipulation and fraud. My investment advisory service suggests that pullbacks on bad news like this rarely last, and that it might be a good time to buy. In the meantime, money is continuing to pour into stocks now that a recovery seems virtually assured.
Mark Hulbert writes that although stocks have continued to climb lately, investment advice has become more pessimistic, which, from a contrarian viewpoint, is bullish: The bulls are smiling
A golden mystery discusses the paradox of gold falling when the news is bad and should provoke a flight to quality (viz.: gold).