Wednesday's Outlook: Global Indexes Pressured
These are a lot of charts for one day but as yesterday may have been an important day, many are justified. I don’t know what’s next and neither does anyone else. Those crying for the Fed to “do something” would only get something symbolic even with a sharp rate cut since interest rates are already low.
The problems are with boneheaded bankers and the junk they’ve scattered in portfolios. The Fed can’t fix those.
The Treasury Secretary is no doubt heavily involved with trying to sell a piece of America to willing SWFs around the globe. That could help stave off bankruptcies and so forth but not solve the economic problems of too many houses with prices still too high. It won’t get better as lenders tighten standards.
It must steam shareholders of MS for example to see deals being done with SWFs at prices below current market prices and with preferential yields more than 9 times current yields. But that’s part of being in the 'in crowd', eh?
Now given my error with not including MOO as a viable ETF candidate for investors, it makes me feel a little like Chris Farley & Co in this video.
Have a pleasant day.
Disclosure: Among other issues the ETF Digest maintains long or short positions in IEF, SH, SDS, MYY, RWM, TWM, PSQ, GLD, GDX, DBA, IYR, EFA, EFZ, EWW, EWD, EWJ, EWV and RSX.
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This article has 2 comments:
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jr7107
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29 Comments
Jan 17 12:16 AM-
David Fry
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123 Comments
Jan 17 08:15 AM