Daily Investment Interpretations
July 6, 2011
(Wednesday Night): The
market closed somewhat higher today: Market
Wrap: Quiet Day, Decent Action. The NASDAQ
Composite was up 8.25
points (0.29%) to 2,834.02. The Dow
gained a respectable 56.15 points (0.45%)
at 12,626.02; the S&P 500 increased 1.34
to settle at 1,339.22. Oil ticked up to $97.33; Gold
leaped to $1,530. Interestingly, the VIX
rose another 0.28
Mark Hulbert tells How to beat the market without even trying by using dollar-cost averaging.
Brett Arends has written a Paul-Farrell-class article, Brett Arends: Get set for next financial crisis, documenting the fact that Wall Street has contrived to regenerate the set-up for the 2007-2008 meltdown, only worse. For example, "6. The derivatives time bomb is bigger than ever — and ticking away. Just before Lehman collapsed, at what we now call the height of the last bubble, Wall Street firms were carrying risky financial derivatives on their books with a value of an astonishing $183 trillion. That was 13 times the size of the U.S. economy. If it sounds insane, it was. Since then we’ve had four years of panic, alleged reform and a return to financial sobriety. So what’s the figure now? Try $248 trillion. No kidding. Ah, good times."
The only question is: when will this be triggered?
Market futures are up tonight.