Daily Investment Interpretations

September 26, 2010

2010-9-26 (Sunday Night): Market futures are up more than 2% tonight: Stocks riding on flood of liquidity: Risk back on, and  After soft patch, economy still stuck in rut. In the first article, Marketwatch's markets editor, Nick Godt, points out that the market isn't climbing on expected improvements in the economy, but rather, on a global economy that's performing poorly enough that the world's central banks will flood the system with more money... which, he says, is why gold is climbing the way it is.
    My investment advisory service is reporting excessive enthusiasm and an overbought condition, and has pulled back from cautious buying to a HOLD, with the possibility of a "sell" signal at hand(!)
    This is very tricky.
The market seems to be climbing a wall of worry. There's general agreement that it has broken upward out of its trading range. Is this the usual "wall of worry"?