DEBT
“To achieve economic and
financial stability, U.S. fiscal policy must be placed on a sustainable path
that ensures that debt relative to national income is at least stable or,
preferably, declining over time. Attaining
this goal should be a top priority.” – Ben Bernanke
Politicians haven’t been
paying attention, but CEOs of America’s companies are. They are joining together asking Washington
to take action.
DEBT
Political Watch – “Top
CEOs urge debt deal in Washington — including tax revenueOctober 25, 2012, 8:54 AM”
“Chief executives, presidents and chairmen and chairwomen of more than 80 top U.S. corporations are calling on Congress to use a mix of spending cuts and tax-revenue increases to curb the nation’s deficit, The Wall Street Journal reported early Thursday, citing an open letter due to be released later in the day.” Commentary at…
http://blogs.marketwatch.com/election/2012/10/25/top-ceos-urge-debt-deal-in-washington-including-tax-revenue/
MARKET
RECAP
Thursday the S&P 500 rose
1/3%, to 1413 (rounded) and VIX fell a little more than 1% to 18.12.
NTSM
The
NTSM analysis remained HOLD Thursday.
Indicators are slowly
improving. Market internals are mildly
negative, but the market was up in the last hour of trading as the pros are
buying. It would appear that we avoided a correction,
or at least it has been postponed.
MY INVESTED POSITION
Based on the BUY signal, 6
July, I moved back into the market on 9 July (after the weekend) at S&P 500
1352.
I currently have a 50%
stock allocation overall. For my age,
that is what many advisors recommend as a fully invested position, however, I
am normally much more aggressive. I have
less invested in stocks now because there’s a lot of risk.
