Daily Investment Interpretations
May 27, 2010
The markets rose rose more than 2% today (Nasdaq is positive for 2010 on
China's pointed denial that it intends to sell Eurobonds, and on Spain's
adoption of austerity measures aimed at restoring their global competitiveness; Spain's reluctantly austere .
The NASDAQ Composite hopped up 81.8
to 2,277.68, the Dow skipped up 284.54
to close at 10,258.99,
and the S&P 500 jumped
to end at 1,103.06.
Oil vaulted up $3
to close at $74.50
a barrel, while Gold ended at $1,214. The VIX fell 5.34
I'm impressed. My investment advisory service may have called it correctly after all. My advisory service is only expecting a short-term updraft. From a contrarian viewpoint, sentiment is certainly sufficiently negative for a rebound: Investor pessimism at worst since November, Bearish sentiment is good news for investors.
Peter Brimelow describes Two savage skunks, two unbowed bulls.
Crisis undermines euro
Chuck Jaffe warns people seeking a financial advisor against basing their choice on the advisor's credentials. Advisors have generated more than a hundred titles to try to impress potential clients. Mr. Jaffe writes that "A is for advertising", "B is for bamboozle", and "C is for credibility". "Standards vary for each role, with state or federal law dictating whether practitioners must even be registered or licensed. Even then, 'registration' is more about putting your name on file than it is about having achieved a minimum standard of education and academic excellence." Advice leaves investors hungry
For what very little it's worth, market futures are neutral tonight.