Wednesday Outlook: Commodities, Emerging Markets

by: David Fry March 26, 2008 | about stocks: DBA / DBC / EEM / EFA / EWZ / FXI / GLD / IFN / MOO / RSX / SLX / USO / XLB / XLE    
David Fry

David Fry

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I see that the Clear Channel (CCU) deal is falling apart for lack of bank support to the buyers. This shouldn’t surprise. However, this kind of stuff is clear evidence that the credit crunch is not over.

The news Tuesday could hardly have been worse and it does take a Superman to spin things as positively as was done.

Bears are at a calendar disadvantage with end-of-quarter tape painting taking place. Further, the entire financial media, particularly bubblevision, has thrown their weight behind “a bottom being firmly in place”.

We shall see.

Have a pleasant day.

Disclaimer: Among other issues the ETF Digest maintains long or short positions in SH, MYY, IWM, RWM, PSQ, IEF, UDN, GLD, FXF, USO, EFA, EEM, and FXI.

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This article has 2 comments:

  •  
    Mar 26 09:14 AM
    As I say, they can only "gig" the news so long (sucking in the small investor). What everyone seems to so severely miss is that without real income growth- which we haven't had for years as we've been fueling our demand for things with credit growth-there can be no real GDB growth. Greasing the financial wheels prevents meltdown, but the underlying fundamentals of weakening American skills creating a more service based economy (especially on the low end) are not a driver for wealth.

    In our incredible desire over the years to avoid normal and healthy corrections, we have built an artificial economy based on assetts, not income. Housing will regress to the mean, as supply and demand will ultimately trump any tricks the Fed can attempt.

    Now commodities inflation will enter, and will exist for years.

    Great charts David, I look for them every day.
    Reply | Link to Comment
  •  
    Mar 26 09:27 AM
    Great charts David. The window dressing component is certainly a difficult course to navigate.
    Reply | Link to Comment
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