A solid rally simply ran out of steam as yesterday’s chart clearly shows.
The Dow, which was up some 175 points at one time, gave it all back as bullish sentiment faded into the close.
Fed chairman Bernanke tried to chime in this weekend by attempting to spread a dose of optimism during a rare TV interview on ’60 minutes.’ His view of the recession coming to an end “probably” this year can’t be taken serious as he was of many officials who did not see the perfect storm brewing last year.
On a different note, reader GH pointed towards an interesting website, and especially a Podcast featuring Harry Dent and Mish Shedlock.
It’s about an hour long, but well worth the time listening as the host of the show has some not so kind words to say about ‘lazy portfolios,’ ‘buy and hold,’ ‘incompetent brokers,’ and several other issues that I have touched on from time to time.
Go to this link and scroll down the page until you see the Podcast icon. Then play or download at your convenience.
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Comments 1
Ulli,
These guys like Dent and many others seem to thrive on themselves giving out all these predictions, I have a few myself, but will they actually happen, I don’t know. The lazy portfolios, buy and holder and incompetent brokers mentioned in this blog article speak for themselves. Lazy portfolios are apparently just that, used by lazy people, buy and holders are somewhat like being a bag holder and the incompetent brokers speak for themselves by the dumb things they tell people to do like always buy something when the trend is down as one example and amost always telling people that they might miss the bottom so buy now because you are in for the long term, yea right, losing all the gains over the last 12 years is a long term OUCH!!!.