Daily Investment Interpretations

September 15, 2011

2011-9-15: (Thursday Night): The market indices climbed yet again for the fourth day in a row::Stocks' fulsome foursome, Euro Sentiment Improving; Bulls Make it 4-In-A-Row. The NASDAQ Composite advanced 27.62 points (1.34) to close at 2,607.07. The Dow added 186.45 points (1.66%) to close at 11,433.18; the S&P 500 rose 20.43 points (1.72%) to settle at 1,208.11. Oil srose slightly to $89.25 ; gold eased to 1,792: Gold settles at its lowest in nearly three week  The VIX dropped 2.63`points to 31.97..  
    What
's behind all this gemüchlichkeit is the announcement that the European Central Banks will join forces: Central banks join forces. Otherwise, the news was all bad: Jobless claims rise, tCPI Comes In Above Expectations in August; Core Rate Steady, Negative Philly Fed index worse than forecast,  and New York–area manufacturing activity dips.
    State of the Markets technical analysis concludes: Technical Talk: Trading Well But Resistance Looming.

    The State of the Markets article roster includes:
    Spanish Bond Auction Sees Decent Demand But High Rates  
    European Banks Using Gold To Access Dollar Funding  
    ECB Announces Coordinated Dollar Funding Measures to Ease Strain  
    Industrial Production Above Consensus; Capacity Utilization Even  
    Bloomberg Consumer Comfort Index Holds Steady  
    Philly Fed Headline Looks Bad But  
    IMF’s Lagarde: Dangerous New Phase, But There Is a Path to Recovery  
    And finally, Dave Moenning affords a peek at his own investment choices in these mercurial times: The Outlook and How I'm Playing The Game. Basically, he's investing 80% of his money in intermediate-term holdings, buying when markets are down, and 20% in more-aggressive, shorter-term plays.
    At the same time, it
's worth noting that the percentage of economists anticipating a recession has risen to 50% (though this survey wouldn't incorporate the latest spate of news about collaboration of Europe's central banks).
    The State of the Markets portfolio is currently in cash
    Stock market futures are neutral tonight.