— Market history of the past 11 years confirms this assertion. — It is a gift given to us by the media … tales “full of sound and fury, signifying nothing.” –Today’s report was par for the course, causing a knee-jerk 382 point drop in the Dow followed by a barrage of inane, Powell parsing commentary….
Tag: stocks
The real “Doctor Doom” is back and he’s gloomy
Who is the real “Doctor Doom?” Why, it is none other than Henry Kaufman, former chief economist at Salomon Brothers, after a long repose out of the limelight. Not only is he back, but he is loaded for bear … he ” … Sees Danger in the Markets and Economy.” (you need WSJ or Barron’s…
The Market Floats In a Sea of Mines
“Damn the torpedo’s… Full speed” … ahead! I used this somewhat doctored quote from Union Rear Admiral David Farragut to title my final post of 2019. Back in the day (1864) the torpedoes Farragut was damning happened to be contact mines that were easily able to blow a ship out of the water. There were…
“Investors Are Gorging on Hyper-Bullishness as Turkey Day Nears”
— New concerns are raised over a big jump in investor sentiment— Both the Investors Intelligence and AAII surveys show moves to levels well above historical averages— The Media flashes caution signs, as usual, without perspective …— I still contend we are in the midst of secular bull market. Ignore the noise Okay, my title…
The crisis abates … Yeah, Right!
The Ecstasy, The Agony and Back It is hard to believe that only fifty days have passed since the S&P 500 posted a record high of 3393.52. As of this past Thursday the index closed at 2789.82, down 18% on the year and up 28% from its March 23, low of 2191.86. Needless to say,…
“Walking a tightrope”
This was the title of Bloomberg’s “Weekend Reading” post, which captures and caters to the angst in the market place about the global economy and fear of the “R” word. I mean “walking the tightrope” did get my attention, so much so I used it for my title as I was attempting to gain your…
A Lethal Combo: PMI at a 10-year low + Slowing Job Growth — NOT!
Flash! Dow looses 800 points in 2 Days Here we go again, more selling based on market news items reported without contextual backup. Purchasing Manager’s Index (PMI) for September Worst in a Decade 50.2% was the expected reading. 47.8% was the actual number. Any reading below 50 is considered to be indicative of a slowing…
Impeachment: Precursor and Aftermath
Introduction In this discussion the potential market impact of the run-up to an impeachment proceeding and the impact of an impeachment trial and removal from office of president Trump, I will do my best to keep it apolitical and factual. I will be speculating about possible outcomes and their impact on the market and the economy. I…
Breaking Radio Silence …
Actually, I’m breaking internet silence. “Radio” just sounds much more dramatic … like risking blowing a top secret mission. What I try to do with kortsessions is to blow someone else’s secret missions … to give facts and perspective. That “someone else” is the media, and their covert mission, as it pertains to market news,…
“Ladies and gentlemen we have a ‘Black Swan'” — Revisited
Election 2016 a major negative surprise for investors? Initially, I thought it would be. Early the morning of the day after I posted, Ladies and gentlemen we have a Black Swan (11/9/2016). I mean based on the polling, which turned out to be dead wrong, there looked to be little chance that we’d ever see…