We
moved up on average volume on the NYSE today.
Have the traders decided that yesterday was a “buy” based on the 1266
mid day low? Or was today a typical
bounce in a bear pattern? We’ll know in
a couple of days. I lean toward the
negative, but I have been reading too many doomsday posts on the internet. There’s a lot of worry over the debt…ours and
Europe’s.
I
remember after we bailed out all of the lending institutions and real estate
was tanking. The Government bailed out the institutions. I was sure the country would be doomed by all
the debt. It was the 80’s and it was the
savings and loan crisis…so now it’s déjà-vu all over again. My point is simply that the crisis is real;
it’s just hard to gage if the stock market will react now or a year from now.
This
time it’s serious though because the debt is so much higher and sooner or
later, it is likely to hurt the economy.
Not
much change today. The Navigate the
Stock Market model gave a Sell signal a week ago, on Friday, 3 June. It is HOLD today. (See the page “How to Use the NTSM System”).
I
am defensively positioned with only 30% invested in stocks.
