The other side of the world is halfway through their day. VIX in the high 40's. Baltic Dry Index advancing over 2%. Gold is mostly flat but trending up. NG is below $4mmcf and oil maintains the mid $40's per bbl. CRB index bounced off 200 on Friday settling at 209 at close. DJIA closed the day at 6626. It was not that long ago that the calls for 6600 on the Dow were mostly dismissed. Current views forward range from everything from 5000 to 400 by years end depending on the bearish committment. There have been so many surprises whose to know anymore. Major indices across Asia, Australia and New Zealand are mixed overnight. Russia advancing 3%, Italy losing 3% (at posting). Those that remain engaged are busy looking for new and different clues and signs of a peek ahead. Many Thanks to Abnormal Returns for sharing this excellent post; What would happen to the equity indices if all the financial stocks went to zero? (ROI).
UPDATE1: Signs of Armageddon or bullishness? Wall Street journal article on technical levels raises the specter of the Dow at 5000, but it could actually be read as a bullish signal of growing capitulation.
S&P 500 with dividends going back to 1973, both cumulatively and by 10-year rolling average. Inflation Adjusted w/ Dividend S&P 500
Warren Buffett is on CNBC this morning ...From the CNBC live blog, a few Buffett comments: Buffett: Economy "has fallen off a cliff."
The World Bank delivers their economic forecast. Global Economy To Shrink For First Time Since World War II
MSCI's all-country world stock index was down 1 percent, bringing year-to-date losses to around 24 percent. The index, a benchmark for major investors, is only a few percentage points away from lows reached in 1995, before that decade's Russian and Asia crises. World Markets Sink To New Lows
No comments:
Post a Comment