I’ll post the today’s Market Analysis and Market Report after the close.
CHINA SERVICES INDUSTRIES STAGNATE (Bloomberg)
“China’s service industries stagnated in
July as a private index (MXAP)
fell to a record low, suggesting the government’s stimulus measures are failing
to gain traction outside of manufacturing. The [official] services Purchasing
Managers’ Index declined to 50.0, the dividing line between expansion and
contraction…” Story at…http://www.bloomberg.com/news/2014-08-05/china-services-index-falls-to-record-low.html
CRESTMONT
VALUATION UPDATE (Advisor Perspectives)
“Based on the July S&P 500
average of daily closes, the Crestmont P/E is now 92% above its arithmetic mean
and at the 98th percentile of this fourteen-decade monthly metric.” – Doug
Short at...
RON INSANA IS SHORT (CNBC)
“After Monday's rebound in stocks, I wondered if I'd
erred in my decision to short the stock market. But Tuesday's action confirmed
my decision to go short. I'm planning to stick with the position until some
real signs of a market bottom take shape.” – Ron Insana. Commentary at…http://www.cnbc.com/id/101899187
TRIMMED EXPOSURE TO STOCKS - JEFF MACKE
“What's ailing the market? A bunch of things….For my
money the stock market's biggest problem is mental….We're surly, tired, and
just a little scared in general. That's not bullish…I still love the stock
market. I'm still long stocks but as mentioned at this very desk I've trimmed
some exposure. It's not advice but a feeling that we're a little less than
halfway through this shake-out. The S&P 500 has support at about 1800. That
would be 10% from the highs. I'd LOVE to buy stocks there. Until then I'm
inclined to wait.” This was a nice sensible overview; well worth the read at…
http://finance.yahoo.com/newsliving-in-denial-can-kill-your-portfolio-123710915.html
