Welcome new reader!

Financial news I consider important, with my opinion, which is worth as much as you paid for it.
Please click HERE to read a synopsis of my view of the financial situation.

Thursday, September 8, 2011

Past fear, time to rally?

First, Obama's speech was more forceful than I thought.  But overall its more of the same, spend now, save later.  Notice how its 3 YEARS after the 2008 crisis, and the country knows we are STILL in a crisis.  Notice how root cause of the crisis is never addressed, what is addressed is pandering to the people most affected, the under and unemployed.  In general I liked his speech, but I'll wait to see what is actually done to render a final verdict.  (Full text here)

Anyway, to the markets, Gary of the smart money tracker pointed how how extreme the market is oversold.  The futures seem neutral, so I will follow his lead an rebuy my longs.

Yea, I panicked  Monday, but the indexes are only slightly higher than they where on Monday.
Back to buying gold miners, AVL, and natural resources.  A break below S&P 500 of 1,100 will still freak me out.  (News Alert, that affect AVL here)

The most extreme wild card out there is europe.  If European union breaks up, who knows what the market reaction will be.

Good luck

Obama's speech.

No comments:

Post a Comment