I
try not to do political commentary here.
It is a farce on both sides of the isle, but I thought this was
interesting.
In
Fortune Magazine, Geoff Colvin, senior Editor at large, suggests that the
President’s jobs strategy is “delusional.”
The article says the President’s implied message “…that U.S. manufacturing
withered while we bought Chinese products at
the mall, is simply wrong. American
manufacturing boomed during the expansion. The value of "what we
build" increased every year. The problem for the President…is that we did
it with fewer workers every year…the more advanced that manufacturing becomes,
the fewer people it employs. At a time when the country desperately needs more
jobs, manufacturing is obviously not the place to look for them. As the
President meets with his Jobs and Competitiveness Council, listen carefully to
what he says. A delusional policy for America's No. 1 problem is the last thing
we need.” Full article at http://finance.fortune.cnn.com/2011/09/19/obama-looking-for-jobs-in-all-the-wrong-places/?iid=HP_River
The
NTSM analysis is HOLD once again. I
think the long time that we’ve recorded that “no-change” view is due to the
general confusion of investors. I can
find articles stating now is the time to buy; for example, Treasury yields are
so low that stock yields are the place to be.
On the other hand, why sell?
Greece; US economy; debt…plenty of articles there too.
VIX is pretty firmly telling us to remain out of the market
I sold on the 27 July sell signal at S&P 500 1301 and I am
defensively positioned with only a small amount of my portfolio invested in
stocks. (Zero stocks in the 401k.) (See the page “How to
Use the NTSM System” – the link is on the right side of this page).
