Daily Investment Interpretations

Wednesday, May 23, 2012

2012-5-23: (Wednesday Night): The markets dove today and then climbed back up, ending about where they started: Street stages a comeback; Stocks erase hefty losses. The NASDAQ Composite closed up 11.04 points (0.39%) to end at 2,850.12. The Dow eased another 6.66 points (-0.05%) to close at  12,496.15; the S&P 500 advanced 2.23 points (0.17%) to settle at 1,318.86. Oil ended the day  at 89.90: Oil ends below $90 for first time since October; gold logged off at 1548.40: Gold futures below $1,550 at the close. The VIX slipped 0.15 to 22.33.  
    "Dow recovers from a roughly 200-point drop; Nasdaq and S&P finish with modest gains."
    "After nearly a full day in the red, stocks erased most of their losses in the last half hour of trading Wednesday. More"

     
    Marketwatch says: 
    Nice words for Greece but no euro-bond deal.
    ‘Astonished’ Merkel says no to euro bonds
    Michael Casey: Fear glues Greece to euro
    The New Tigers: complete special report
    Poland, Turkey offer higher risk, more reward
    Michael Gayad explains Why crash risk remains very real  
  
    Lawrence MacMillan says that Stocks are severely undersold  
    Near-perfect indicator says buy now  
    Mark Hulbert writes Insiders help bull market dodge bullet  
    EU leaders want Greece to stay; no eurobond deal  
    Matthew lynn points out that Euro collapse needn’t sink global economy.
    Irwin Kellner writes Better red ink than dead economy    
    Lagarde: liability-sharing needed  
      
    State of the Markets articles include:   
    Looking Ahead to Thursday's Market  
    Let's Just Stop All The Pretending
. "We need to call a spade a spade here. So many analysts, managers, and pundits come on TV to tell us - with absolute certainty, by the way - (a) what the market is going to do next, (b) what will happen next to the economy, (c) what the Fed will do and when, and (d) what will happen in Europe. However, the bottom line is that nobody can predict any of this stuff because all of the above is intertwined as well as tied to data that we don't have yet and events that haven't occurred yet. So, as investors, we all need to collectively stop pretending we know what is going to happen ... Read More »"
    New Home Sales and Prices Rise in April
    FHFA House Price Index Improves in March  
    Investors Intelligence: Bullish Sentiment Pulls Back      
    NAAIM Index Shows Managers Modestly Bullish  
    European Governments Asked to Prepare Contingency Plans for Greek Exit  
    CBO: US to Fall Into Recession if 'Fiscal Cliff' Not Addressed  
    Spain To Ask ECB to Buy Its Bonds  
      
    Market futures are down a few hundredths of a percent tonight.