Daily Investment Interpretations
February 10, 2011
(Friday Night): The
markets ended significantly lower today: Stocks break five-week run;
Stocks close out week with modest declines. The NASDAQ Composite
backed up 23.35
to 2,903.88. The Dow subtracted 89.23
the S&P 500 lost 9.31 points
to settle at 1,342.64. Oil adjusted to 99.05: Oil lower, too; gold
to 1725: Gold drops on Greece delay. The VIX rose
points to 20.79.
Why the losses? The Greek deal, which was treated yesterday as a "done deal", wasn't: Greek deal? Maybe next week. Then, too, the markets are quite overbought after their big January-February run-up. So if you own the Wall Street Journal, Barron's, and MarketWatch, is it time to amp up the bad news and make money off your readers by shorting the market? Good question?
Mark Hulbert explains that Stocks up, but so is fear (video).
Mark also tells about: The Bernanke gold trading strategy.
Thomas Kee reminds us that: Macro problems not going away
We're one headline from a 5% fall
5 pros' worst-case plays
• How bull markets become bubbles
Rex Nutting says that Heritage is wrong about welfare state.
State of the Markets articles include:
Technical Talk: Two Items Worth Noting
It's Sooo Tempting
S&P Strikes Again; Downgrades 34 Italian Banks
University of Michigan Sentiment Below Expectations
In My Opinion: Austerity Is Great - Just Not Here!
Eurozone Finance Ministers Reject Greek Austerity Proposal, Make New Demands