Daily Investment Interpretations

August 17, 2011

2011-8-17: (Wednesday Night):  Today, Stocks battle back to end mixed: . The NASDAQ Composite lost 31.75 points (-1.24% ) to end at  2,523.45. The Dow powered upward 76.97 points (-0.67%) to close at 11,405.93; the S&P 500 sagged  11.73 points (-0.97%) to settle at 1,192.76. Oil slipped to $87.15: Oil falls as global demand prospects weaken; gold climbed to $1,790: Gold rises to record $1,785 an ounce. The VIX rose 0.98 points to 32.85
    State of the Markets' David Moenning says, "Searching For The Truth" He concludes that the markets are readjusting to the prospects for slower growth, and are in a "discovery" process.   Technical Talk: I was Expecting Some Oomph: "Without any really bad news to send traders scurrying to the sidelines, the bounce phase of the waterfall decline pattern appears to be ongoing. And as we've been saying an upside of 1230 would seem "about right." However, we must keep in mind that history rarely repeats itself exactly. As such, we're on the lookout for an abrupt rally failure. Bottom line: Stay flexible and follow your trading guidelines, this is no time to start 'winging it'"  NAAIM Survey Shows Active Managers Not Taking Chances: Investment managers have gotten more bearish over the past week. at the same time: Investor's Intelligence Shows Sentiment Still UpbeatInflation at Producer Level Should Keep Fed on Hold, i. e., there probably won't be any QE3 or QE2.5. Go Anywhere Funds Stand and Deliver In Current Market Mayhem       
    The good news: Mark Hulbert says, Don't fret if Dow dips into death cross. Mark Hulbert points out that a death cross usually signals a market bottom.
    Harrison: Investors' rage against the machine   Todd Harrison is getting slightly optimistic.
    Brimelow: Was that the bottom?  
    Fisher talks Fed dissent. As I understand it, Mr. Fisher is saying that the Fed should be raising rates so that U. S. industry would be inspired to borrow money to expand before interest rates go up. Huh? We're threatened with a worldwide global slowdown if not an outright global recession. U. S. industry is already sitting on $2 trillion in cash. If I were a small businessman,
it doesn't seem to me that I would be worried about missing out on an opportunity to expand using a minimum interest loan. I wouldn't be ready to expand until customer demands were outstripping my ability to satisfy them.
    Of course, that may not actually be Mr. Fisher's argument, or if it is, there may be another side to the story that isn't in the news release. 
    Perry push to the right unsettles Republicans 
    Next major price cycle in October      
    Obama to offer more than $1.5 trillion in cuts  
    Market futures are down % tonight.