You may recall that the National Labor Relations Board (NLRB)
has been investigating Boeing for
planning to transfer airline manufacturing jobs from Seattle to a non-union shop in
South Carolina. NLRB threatened to stop the move.
That
was an amazing story. The US Government
was trying to tell a private Corporation where they could do business. (I found that astounding.) This one would have been a Supreme Court case
for the ages. Today, “Boeing and the machinists union have reached a deal that creates new union jobs in the
Seattle area in exchange for the machinists dropping any opposition to the
South Carolina plant.” – Los Angeles Times. Full story at: http://latimesblogs.latimes.com/money_co/2011/12/nlrb-and-boeing-and-whats-next.html
Europe
has been saved exactly as we predicted.
They’ve agreed to a new Treaty and that is good news. But there was no agreement to backstop the
Banks so when Greece fails (and that’s the expectation), the risk to the
European financial system still remains.
In that respect, little changed today, but the news may be just good
enough to allow the market to continue upward.
Today,
Friday, the S&P 500 went up 1.7% to 1255 while the VIX fell about 14%.
(Good
news on the VIX.)
The
NTSM analysis remains BUY.
I
bought back into the stock market at S&P 500, 1155 on 7 Oct after the 6 Oct
NTSM buy signal. I remain 100% long in
the long term portfolio (100% stocks in the 401k.). (See the page “How to Use
the NTSM System” – the link is on the right side of this page).
I am 90% long in the trading portfolio.
Just a reminder: 100% invested in stocks is way too much for most rational folks. Don’t do it unless you have a high tolerance for risk.
