Institutional money market funds increased their balances by $52 billion in the week ended Wednesday to $2.055 trillion (Investment Company Institute Press Release). That’s like a 2.6% increase in cash balances which is one of the largest I’ve seen.
“The big picture overall trend is still down and the market is still broken. Until that is repaired, rallies (even like the one we saw yesterday) are not to be entirely trusted.” – Charles Kirk, “Calling A Bottom”, Thursday January…
After flirting with positive territory in the second to last hour, the Dow and S&P have surged into positive territory in the first 15 minutes of the final hour of trading (S&P 5 Day Chart). In fact, we’ve seen an…
“History teaches that the greatest buying opportunities often arrive at moments of extreme stress in the financial system. Positioning one’s mind, and one’s portfolio, to exploit such moments is vital for generating something other than mediocre performance for the long term. …
Markets sold off badly overseas on Monday as investors feared the effects of a US recession on the rest of the world (Overseas Selloff Graphic). As a consequence, US futures markets were in panic mode yesterday ahead of today’s opening. With…
“A full fledged recession is now priced into bonds and is increasingly priced into stocks.” – Jim Paulsen (subscription required), Chief Investment Strategist, Wells Capital Management “We see US equities as being about 10% to 15% too cheap.” – Greg Fedorinchik (subscription…
“I sensed trouble when a homeless man told me he was studying for his real estate license.” – Peter Hong, “How We Cashed In Before The Housing Crash”, The Los Angeles Times, January 20, 2008 “Don’t believe the hype!” –…
“We should surely expect to see stories about the stock market featured in the financial press such as The Wall Street Journal . This in itself tells us little. On the other hand, when a feature article on the equity…
“Let’s keep paying attention to bulls who finally throw in the towel. We are only at the very, very beginning of this process and it will take a year or two more to shake out the ones who are capable of…
“95 percent of the time when you go against that kind of hysteria, you are going to make money.” – Legendary Investor Jim Rogers, “Buying Value and Selling Hysteria” in Market Wizards: Interviews With Top Traders (1989) The move in Intel…