Daily Investment Interpretations

June 17, 2011

2011-6-17 (Friday Night): The markets ended mixed again, with the NASDAQ down, and the Dow and the S&P 500 up a bit: U.S. stocks post first weekly gain since April, Market Wrap: Good News But Weak Action. The NASDAQ Composite subtracted 7.22 points (-0.22%) to 2,616.70. The Dow advanced 42.84 points (0.36%) to close at 12,004.36; the S&P 500 gained 3.86 points (0.30%) to end at 1,271.50. Oil plummeted to $92.91; Gold eased down to $1,528. The VIX rose another 0.88 to 21.85.
    In the good news department, there's IMF looks past soft patch, and Mark Hulbert's observation that corporations and corporate insiders have recently started buying up their corporate shares instead of selling them: Repurchases running at near record levels. Mark argues that they wouldn't be re-investing in themselves if they thought that the economy were headed toward recession.
    On the other hand, Howard Gold says: Bells ring out the end of this bull market, and Peter Brimelow cites Harry Schultz foreseeing: Stock collapse and $12,000 gold? The Aden sisters are also warning of risks ahead, and are recommending that their clients be 30% in cash, 40% in  precious metals, and 30% in stocks.
    TopStock Portfolios' David Moenning sees the markets basing in preparation for a short-to-intermediate move to the upside: Is The Tide Turning?
    Moody's has just placed Italy on review for a downgrade.