The Long Term Investor

I have NOTHING to add to the markets today since I totally missed the day. Luckily being long term my portfolio took care of itself for the day and even earned me a bit of money. I guess this is what happened today...I have no idea.

Stock market news live updates: Stocks end mixed after Nasdaq's worst day since March

https://finance.yahoo.com/news/stock-market-news-live-updates-september-29-2021-222658646.html

(BOLD is my opinion OR what I consider important content)

"Stocks traded mixed on Wednesday, with the S&P 500 and Dow ending higher as Treasury yields steadied near multi-month highs.

The Nasdaq ended a choppy session lower, erasing some gains from earlier in the session. The index had closed out Tuesday's regular session lower by 2.8%, posting its biggest drop since March.

The decline in technology stocks came as Treasury yields rapidly rose, with the swift move higher in borrowing costs pressuring valuations for growth and technology stocks.

"A lot of Big Tech is overpriced," Teddy Parrish, CEO and chief investment officer of Parrish Capital, told Yahoo Finance on Tuesday. “Those valuations are going to have to go a little lower in one or two ways: They either sell off, or earnings continue to go up and the stocks trade sideways. You can have a little of both, but to look at some of these larger tech companies that aren't growing nearly as fast as their P/E [price-to-earnings] multiples might imply, I think that a lot of them are ahead of themselves."

The yield on the benchmark 10-year note spiked to as much as 1.56%, or its highest level since June, before pulling back to just over 1.51% Wednesday morning. The 10-year yield has also risen markedly over a relatively short period of time, gaining more than 16 basis points from its low from last Friday to its peak on Tuesday.

Some strategists suggested the latest move lower on Tuesday may not spark a deeper drawdown or formal correction in the very near-term. Cyclical sectors including energy and industrials outperformed, buoyed by rising commodity prices as heightened inflation expectations pushed up prices of everything from crude oil to cotton so far this week.

"I don't think it's the start of a correction necessarily, but certainly we've seen rotational corrections throughout the entirety of this year," Art Hogan, National Securities Corporation chief market strategist, told Yahoo Finance of Tuesday's market moves. "This feels much more like a realignment. So, obviously we get strange machinations in the markets towards the end of a quarter and that's knocking on the door tomorrow."

"We certainly have enough of a basket of concerns in general about the future, whether it's inflation or how sticky that will be, the Fed's tapering [and] what that might mean towards earnings ... and certainly what's going on in Washington and what they can and can't accomplish this week," he added. "I think you bundle all that together with yield on the 10-year that's risen pretty significantly in a short period of time, and I really think it's about the pace, not the ultimate level."

In Washington, lawmakers are racing to pass legislation to fund the government beyond the end of the fiscal year on Thursday. Republican lawmakers have balked at tying a continuing resolution to fund the government with a measure to raise the debt limit through the end of 2022, putting lawmakers at an impasse ahead of a Thursday night deadline to avert a shutdown. This also comes alongside ongoing debates around a bipartisan $1 trillion infrastructure deal and $3.5 trillion budget reconciliation package, with key actions on each of these also set to take place later this week.

"It is really important that we separate the shutdown, which is terrible, from the debt limit, which is catastrophic," Jason Grumet, Bipartisan Policy Center president, told Yahoo Finance on Tuesday. "There could be, I think, a very short shutdown of the government Friday night going into Saturday, Sunday. And I think that you would then see a short continuing resolution to get the government running again."

"The government shutdown isn't really the problem we're grappling with," he added. "The problem we're grappling with really is the debt ceiling. Democrats tried to join them together. That did not make the sale for Republicans. Some Democrats have a different approach on the debt ceiling. But I am not particularly concerned about a government shutdown."

12:20 p.m. ET: 'Yesterday's selloff was really largely driven by rate movement': CIO
A number of strategists pointed to the speed of the jump in Treasury yields, rather than the absolute level of rates, as the key factor triggering Tuesday's tech-led selloff in U.S. equities.

"Yesterday's selloff was really largely driven by rate movement," Timothy Chubb, chief investment officer for wealth advisory firm Girard, told Yahoo Finance Live on Wednesday. "It wasn't necessarily the size of the rate movement, [but it was] really the speed that it took place.

"This move taking place over the last 10 days actually was two standard deviations from the mean," Chubb added. "As has been typical in history, when we see rates rise, the correlation of a steepening yield curve and higher rates on the longer end and through the belly of the [yield] curve that we've seen in the last week, [it] tends to bode very well for a lot of cyclical growth assets."

10:42 a.m. ET: 'The market is testing the resolve of lawmakers to do the right thing': Portfolio Manager
Sparring among lawmakers in Washington, D.C., over government funding and raising the debt ceiling have been a central concern for markets over the past couple weeks, compounding with existing jitters over the outlook for inflation, supply chain constraints and the trajectory of coronavirus infections.

"There's a reason why September's one of the worst months for the markets, and one of those reasons is because that's when the end of the fiscal year is for the U.S. government," Diane Jaffee, TCW Group senior portfolio manager, told Yahoo Finance Live on Wednesday. “There’re always a lot of power plays and brokering and brinkmanship. And that’s 100% true, since everything is really focused on some of these bills here this week.”

Despite the near-term concerns on Capitol Hill, however, the backdrop for equities still appears to be solid, Jaffee maintained.

“It’s not abnormal to have market corrections, three or four short spurts downwards of 3-5% in any calendar year,” she said. We’ve gone several months without anything really hectic, and that’s because we’ve got this tremendous monetary and fiscal stimulus holding us up, being a booster. So while I think there is some nail-biting going around … this lift from the stimulus is really supportive going into 2022. So yes there will be some waves along the way, but the trajectory we think is quite positive for stocks.”

“The market is testing the resolve of lawmakers to do the right thing. A correction is typically 5-10%,” she added. “We’re not there yet but we’re bouncing along here. I believe that we are going to come out the other side of even just this week in a better way.”

10:00 a.m. ET: Pending home sales far exceed expectations in August, rebounding from July dip
Home contract signings jumped far more than expected in August, rising for the first time in three months as improving inventory levels helped partially offset elevated prices and brought more buyers back into the market.

Pending home sales rose 8.1% in August month-on-month, according to the National Association of Realtors. This exceeded estimates for a 1.4% monthly rise, based on Bloomberg consensus data. In July, pending home sales fell by 2.0%, with this figure downwardly revised from the 1.8% drop previously reported.

"Rising inventory and moderating price conditions are bringing buyers back to the market," Lawrence Yun, NAR's chief economist, said in a press statement. "Affordability, however, remains challenging as home price gains are roughly three times wage growth."

Even after the August jump, pending home sales were still down 6.3% on a seasonally unadjusted basis compared to last year, when low interest rates and demand for more space pushed up sales. However, this was better than July's 9.6% year-over-year drop in contract signings. "

MY COMMENT

I see that NOTHING was really going on today. In fact NOTHING has changed for the markets at all going forward. There is NOTHING on the horizan that is particularly negative for the markets for the rest of the year. We WILL need to see some nice earnings when the reports start in a month or so.

This week we are simply going to have to....ENDURE......the government funding and debt ceiling and tax and spend bill.....BULL SH$T......and all the games that go along with it. The sooner we get this stuff either over with......the better for investors.

The ONLY issue that slightly matters is the government funding bill....and...this should be taken care of this week of within a few weeks......it is simply one big NOTHING-BURGER for real people.

Senate may vote Wednesday on bill to prevent a government shutdown as deadline approaches


https://www.cnbc.com/2021/09/29/gov...mer-says-senate-may-vote-on-funding-bill.html

 

Yeah......we are now living in the era where.....EVERYTHING is 24/7 drama....and....EVERYTHING is a HUGE crisis that is going to destroy the world. Obviously.....we are seeing the impact of the internet and social media on civilization. EVERY day there are two, three, four headline topics that are the next big CRISIS. Day after day after day of total FEAR MONGERING.

BUT.....when you look back......just a few weeks later......just about NONE of them actually happened. HERE is the perfect example.

The feared eviction ‘tsunami’ has not yet happened. Experts are conflicted on why.
Eviction filings have fallen or remained flat in many areas after the moratorium was struck down.

https://www.washingtonpost.com/business/2021/09/28/eviction-cliff-moratorium-rental-assistance/

(BOLD is my opinion OR what I consider important content)

"When the Supreme Court decided to strike down a federal ban on evictions in August, lawmakers and housing experts mentioned a slew of devastating metaphors — cliff, tsunami, tidal wave — to describe the national eviction crisis they saw coming. One month later, however, many of those same authorities find themselves wondering: Where is the cliff?

In major metropolitan areas, the number of eviction filings has dropped or remained flat since the Supreme Court struck down the Centers for Disease Control and Preventionmoratorium on Aug. 26, according to experts and data collected by the Eviction Lab at Princeton University. In cities around the country, including Cleveland, Memphis, Charleston and Indianapolis, eviction filings are well below their pre-pandemic levels.

Housing and eviction experts offered a mix of guesses about why an expected onslaught of evictions has not yet materialized, including that the wave could still be coming. The pace at which courts handle casesvaries widely across the country, and some courts may be severely backlogged. In some regions of the country, the federal eviction moratorium did little to slow filings amid the pandemic and, in other areas, protections are in place. Some tenants may have also moved on their own to avoid an eviction.

Housing experts don’t believe the country has solved its eviction issues, and there are still places where evictions have risen since the ban ended. Filings have surpassed their pre-pandemic levels in Gainesville, Fla., and have come close in Cincinnati and Jacksonville, Fla."

MY COMMENT

What makes this MISINFORMATION even more critical is the fact that the majority of people dont even know that it DID NOT happen. After the initial ONSLAUGHT of FEAR.....most people never learn that it never happened.....so it becomes ingrained in our culture as FACT.

The day to day impact on investors is SIGNIFICANT and unavoidable. Long term investors avoid the impact over time but have to suffer the short term mental pain and wear and tear of the constant mental BARRAGE of the stress and drama. Unfortunately there is really no answer for this intentional and reckless constant agenda driven BULL SH*T.

 

Staying.....somewhat....on the same topic.

Energy Prices, Interest Rates and Volatility: Our Thoughts on a Rocky Tuesday
Headlines are overreacting to short-term events, in our view.

https://www.fisherinvestments.com/e...nd-volatility-our-thoughts-on-a-rocky-tuesday

(BOLD is my opinion OR what I consider important content)

"It’s baaaaaaaaaack. The volatility monster, that is. After months of calm, the S&P 500 has delivered more big daily moves of late, including more big negative ones. Last Monday brought a -1.7% drop as the world freaked over a Chinese property developer’s potential default. Today, it was a -2.0% fall as a mooted oil supply crunch and an uptick in 10-year US Treasury yields spooked many.[ii] When markets were calmer, we reminded you that volatility would return and, when it did, we think the best thing to do is stay cool-headed, assess the situation carefully and think beyond the next week or month. That holds today, in our view.

With markets rocky again, we think this is a good time to reiterate some advice we gave at September’s outset: “While they are regular occurrences, substantial pullbacks draw reams of attention—and pundits’ explanations about why more trouble must lie in store. But letting this influence your portfolio decisions generally isn’t beneficial.” We are seeing this phenomenon everywhere now, making it critical to put your emotions to the side and assess their arguments carefully. If they are right and a lasting downturn lies ahead, there will likely be plenty of time to move strategically to avoid the worst of it. If they are wrong, then you will have saved yourself the financial setback (and heartache) of selling after a sharp drop, then missing the recovery.

So with that said, let us take on today’s central fears. The first: oil. Or more specifically, energy, as oil and natural gas prices are spiking in tandem. The central fear is not that high oil prices will hamper consumption, but that they represent severe shortages that will crunch global energy supply this winter—particularly if more countries start relying on oil-fired power plants to compensate for shortages at natural gas-fired plants and wind farms. Supposedly, we are already seeing the first signs of this with mile-long lines at gas stations in the UK and electricity rationing in China. Yet in our view, a closer look shows neither of these situations is representative or terribly forward-looking for global energy markets. In the UK, the shortage stems from panic-buying, akin to 2020’s great toilet paper freakout. But the root issue isn’t a shortage of gas itself, but a shortage of truck drivers to transport said gas to filling stations. When BP warned of temporary closures at some gas stations due to the lack of drivers, it triggered a classic run, making a nationwide shortage a self-fulfilling prophecy. While we won’t hazard a guess at when this acute problem will end, UK hauling companies—like their global counterparts—are already raising pay packages in an effort to entice new drivers, and there is some anecdotal evidence that this is starting to work. In time, like the world’s many other logistical bottlenecks, this should ease.

As for China, this is less about oil and more about a self-induced electrical shock tied to price controls and the country’s reliance on coal. Coal prices are up globally due to reopening and rising electricity demand, but they are spiking in China due to the country’s ban on Australian coal imports. Usually, utilities can pass higher prices to consumers, who respond to that signal and find ways to curb electricity use. But China caps retail electricity prices, forcing coal-fired power plants to operate at steep losses. As a result, many have closed for “maintenance” or begun operating well below capacity. The resulting blackouts have idled some factories and forced others to run on diesel-powered generators, which runs counter to the government’s emissions ambitions. Here, too, we will refrain from speculating over the endgame. But considering President Xi Jinping is up for “re-election” next year and seems intent on retaining power, the likelihood officials allow prolonged electricity shortages that might spark unrest seems exceedingly low.

Overall, we see a lot of pundits reading too much into breaking news and not paying enough heed to longer-term supply and demand considerations. On the supply side, US oil and gas output took a hit from Hurricane Ida, which temporarily idled refineries along the Gulf Coast, but that is easing. Meanwhile, shale producers are ramping back up, which should increase supply of both oil and natural gas, which is a byproduct of the hydraulic fracturing process. Gone are the days when companies had to flare off excess gas because supply dwarfed demand. Outside the US, OPEC nations have ample spare capacity and are already discussing production increases. So in our view, the evidence points to supply rising and balancing out demand, which should render severe winter shortages a false fear. (Note, too, that if the wind starts blowing in Europe, their wind power plants would also add to electricity supply, easing demand for natural gas.)

Rising long-term interest rates are also a false fear, in our view—another case of pundits reading too much into short-term wiggles. Ten-year US Treasury yields’ move thus far—from 1.17% on August 4 to 1.53% as we write—isn’t huge, and today’s rates are exceedingly low by historical standards.[iii] Some pundits acknowledge this but warn the uptick is just the beginning of rates’ response to the Fed’s eventual tapering of its quantitative easing bond purchases. We think this is backward. If long rates were to rise as people expect, it would actually be a positive, as it would steepen the yield curve. We have well over a century’s worth of theory and data showing this is fuel for economic growth, as it gets more money into households’ and businesses’ hands to put to work. Loan growth has been anemic this year, which we blame on the rather flat yield curve—banks borrow at short rates and lend at long rates, and a slim gap between the two pinches profits and discourages broad lending. A steeper curve would widen banks’ net interest margins and incentivize them to pick up the pace. So while the world sees tapering as “tightening,” we see it as stealth stimulus.

At the same time, we don’t think long rates are likely to shoot radically higher and stay there. When the Fed last tapered QE, rates rose in 2013’s second half as taper talk swirled and markets priced in the program’s wind down—but they fell as the Fed actually tapered and eventually ended its bond purchases in 2014. Markets had pre-priced tapering, allowing other variables to have more influence on bond yields once the Fed acted. We see a high likelihood of that scenario repeating today, as yields’ rise since early August has coincided with escalating taper talk. The Fed has all but put its hand on its heart and sworn to start tapering this autumn. If markets are at all efficient, they have discounted tapering and will resume reflecting longer-term fundamentals. For long-term interest rates, the primary variable is inflation, which looks unlikely to remain elevated over the next 3 – 30 months. As we showed repeatedly over the summer, recent fast inflation rates stemmed from a handful of categories where reopening spurred hot demand and businesses couldn’t respond swiftly with supply increases. Those are now starting to cool off. That isn’t to dismiss the summer’s price increases, nor does it mean we are headed to zero inflation. But one-time jumps that slow to the pre-pandemic norms aren’t the same thing as inflation rising 5% year in, year out. Markets know this, even if hyperbolic headlines won’t admit it.

Sentiment-driven pullbacks can start at any time, for any or no reason. They can also end at any time, for any or no reason—this is why we think reacting to them is an error. If your emotions and instincts are making you think action is needed, we think it is best to stop, reflect and ask yourself: What if I am wrong?

While we don’t know when this bout will end, we do know some things about negativity in general. One, we know corrections—sentiment-driven drops of -10% to -20%—are normal in bull markets and don’t operate on schedule. This bull market hasn’t had an official correction yet. Perhaps we are enduring one now. Time will tell. Two, bear markets—longer, deeper declines of -20% or worse with an identifiable fundamental cause—start for two reasons. The first, and most common, is when investors become euphoric and develop outlandish expectations, setting themselves up for big disappointment. We don’t see that now, as sentiment has cooled considerably over the last six months. The second, which has featured in the last two bear markets, is when a giant, shocking negative wallops stocks before euphoria arrives. Last year’s lockdowns were a wallop, and so was the global financial crisis in 2007 – 2009. We assess risks and potential negatives daily, looking closely for things others miss. Right now, we see the opposite—overstated fears that everyone is looking at. That suggests this, too, shall pass.

So breathe deep and hold tight. Last year’s lockdown panic aside, bear markets usually start with a whimper, not a bang. If this does turn out to be the start of a bear market, we think there will be plenty of time for investors to assess the situation with care and discipline and make smart moves. Knee-jerk reactions, in our view, have no place in a long-term portfolio strategy."

MY COMMENT

YES...impossible to do....but the best thing any investor can do is GO DARK.....avoid ALL media. EVERYTHING now is agenda driven opinion.......there are no FACTS any more in the media. We have experienced a TOTAL MEDIA COLLAPSE.This puts the onus on an investor to TOTALLY FILTER all media content.....to start out with the mind set that NOTHING is fact and NOTHING can be trusted. Or.....in the alternative....to TOTALLY ignore all media content.....over the short term.

 

Well at east the averages that actually count.....the SP500 and the NASDAQ are positive today....so far. As usual....a typical open that will likely have no relationship to how we end the day.

 

The above brings me to a topic that I think is important. As an investor.....in the current modern world....you have to be a TOTAL CYNIC. If you trust or believe ANY of the information that is being put out there over the short term......and.....act on it in your investing.....you will pay a BIG PRICE.

The problem is when that investing CYNICISM starts to infect the rest of your life and lap over into family and friends and daily thinking. We see the impact of social media and the internet in all the data on mental health and suicide, etc, etc, etc.

ANOTHER reason to turn off all the content and media. Making money is a good thing for your future....but what is really IMPORTANT is family and friends.....the kids ball game or the science fair......going out to dinner....splurging on something once in a while.....watching a favorite TV show......all the little and big things that are.......living life.

 

I am taking my own advice above......I just muted the latest press conference out of DC......I simply DONT CARE.

 

I like the ACTUAL factual content and positive opinion that is in this daily market summary for today. the negative content.....just typical agenda driven fear mongering....as usual.

Stock market news live updates: Stocks rise, but S&P 500 looks to post monthly decline in September

https://finance.yahoo.com/news/stock-market-news-live-updates-september-30-2021-223533367.html

(BOLD is my opinion OR what I consider important content)

"Stocks advanced Thursday in the final session of September and the third quarter, with investors continuing to eye moves in Treasury bond yields and debates in Washington over a host of measures.

The S&P 500 opened higher by about 0.3%.The index was on track to post its first monthly decline since January, with concerns around fiscal and monetary policy, inflation, regulations in China and the ongoing pandemic all colliding to knock equities from their upward trajectory. Still, the S&P 500 remained up by more than 16% for the year-to-date through Wednesday's close.

Cyclical stocks led the way higher in September as investors bet on higher inflation and rising rates. A jump in crude oil prices helped make the energy sector by far the best performer in the S&P 500. Financial stocks also outperformed, with rising Treasury yields serving as a tailwind to bank profitability.

The Nasdaq has underperformed over the past month as traders rotated away from the growth and technology stocks that pulled the market higher last year. High-flying technology stocks also got hit as Treasury yields jumped over the past week, with the rising borrowing costs weighing on the valuations of growth companies that rely heavily on expectations of strong future earnings.

Even given the dip in U.S. stocks in recent weeks, the indexes are still not far from their record highs. As of Wednesday's close, the S&P 500 was off by about 4% from its all-time closing high from Sept. 2.

“We haven’t had even a 5% pullback since October of last year. It’s going to be a year. This feels a lot worse than it actually is because we haven’t had much volatility since last October, last September,” Paul Schatz, Heritage Capital President, told Yahoo Finance Live on Wednesday.

"But remember, all the reasons why we’re going down — nothing is new," he added. "You’ve got the debt ceiling and the government shutdown and Evergrande and inflation. All known things. None of these are going to befall the bull market or cause a recession. There’s always some kind of short-term thing the market focuses on to get a pullback going. We’ve got it. I think it’s one you buy with both hands in the next week or so, and I think we’re going strongly to new highs in Q4.”

Other pundits, however, were less upbeat on stocks given the medley of concerns.

"We think there are several other headwinds, not directly related to [the Fed's asset-purchase] tapering, that might weigh on the stock market for a while," Thomas Mathews, markets economist for Capital Economics, wrote in a note on Wednesday. "Among other things, we think its valuation is already fairly stretched, that there is limited scope for further upward revisions to earnings estimates given how far they have come, and that long-dated bond yields may rise for other reasons than tapering."

"As a result, we expect the US stock market to make fairly limited gains over the next couple of years," he added.

Thursday night also marks the deadline for Congress to come to an agreement to fund the government beyond the Sept. 30 fiscal year, or else risk a shutdown taking place beginning on Friday. Senate Majority Leader Chuck Schumer said the chamber would vote on on legislation that would extend the funding on Thursday, and then send the bill to the House and to President Joe Biden for approval.

10:41 a.m. ET: 'We've got a market priced for perfection': Strategist
Stocks have come down sharply in September as a medley of concerns on inflation and the economic recovery, debates among Washington lawmakers, and the ongoing pandemic all came together. These issues could generate more choppiness in an equity market that has already run up more than 16% so far this year, according to some strategists.

“We’ve got a market priced for perfection. The cyclically adjusted PE [price-to-earnings] ratio is at 38.3. Now that's really high on a historical basis. So that means that stocks are priced for a lot of growth going forward. And there's a lot to get through," Leonore Elle Hawkins, chief macro strategist for Tematica Research, told Yahoo Finance Live on Thursday.

"You've got a market that's priced to perfection, and you've got an economy that is decidedly not dealing with perfection. We've got those supply chain problems. That's going to take time to work out," she added. "You've also got the labor market, where we've got a shift undergoing with people deciding how do they really want to live, and that's going to take some time to work out. You've got these pricing pressures that are going to take time to work out. All of that put together, on top of what's going on in Capitol Hill."

9:58 a.m. ET: Tesla loses fraud case in China, ordered to pay $235,000 in damages: Bloomberg
A Beijing court ordered Tesla (TSLA) to pay $235,000 in damages to a Chinese driver, who sued the electric car-maker over a purchase of a used Model S vehicle, according to a report from Bloomberg on Thursday. The court said Tesla had misrepresented the condition of the Model S vehicle sold to the drive.

The penalty marked a blow for the car-maker, which has faced a string of regulatory and safety concerns in both the U.S. and China in recent months. China has also been a critical electric-vehicle market for Tesla and its competitors.

Shares of Tesla were little changed to slightly higher during intraday trading on Thursday. Shares have risen 6.2% over the past month, outperforming the S&P 500, which has fallen 3.5%.

8:40 a.m. ET: Second-quarter GDP was revised up to a 6.7% annualized growth rate
U.S. economic output was upwardly revised for the April through June quarter, according to the Bureau of Economic Analysis' (BEA) third revision on domestic GDP.

GDP rose at a 6.7% annualized pace during the second quarter, compared to the 6.6% rate previously reported. The increase tracked a similar upward revision in personal consumption, which rose 12.0% in the second quarter, instead of the 11.9% rate posted in the prior estimate. Personal consumption comprises about two-thirds of domestic economic activity.

"Upward revisions to personal consumption expenditures (PCE), exports, and private inventory investment were partly offset by an upward revision to imports, which are a subtraction in the calculation of GDP," the BEA said in its report Thursday.

8:35 a.m. ET: New weekly jobless claims post unexpected rise, increasing for a third straight week
The number of individuals filing first-time unemployment claims unexpectedly rose last week, signaling some slowing in the labor market's recovery even as companies across industries looked to bring on more workers to fill vacancies.

New jobless claims came in at 362,000 for the week ended Sept. 25, according to Labor Department data Thursday morning. That was above the 330,000 consensus economists expected, and grew from the unrevised 351,000 filings posted during the prior week.

This week's report was also the first to account for the national federal expiration of enhanced unemployment benefits, which took place Sept. 6. As of the latest data, just over 5 million individuals were claiming benefits across all programs for the week ended September 11. That compared to 11.3 million individuals on state and federal unemployment programs as of the week ended Sept. 4."

MY COMMENT

HOW SILLY......the market economist.....whatever that is.....above that thinks the markets are not going to rise for TWO YEARS. At the same time we are seeing HISTORIC GDP data and EVERY negative opinion of earnings being WRONG.

It is obvious that the economy is FAR from being re-opened or back to normal. We continue to struggle to get things back moving. We have a LONG way to go....and...this means we STILL have HUGE upside to the economy and the markets......if our leaders and others dont screw it up.

The NUMBER ONE event that will determine how we end the year will be the upcoming third quarter earnings. I have no idea how they will do.....but there does seem to be lots of negative expectations and WARY forward looking statements that could make for an EASY BEAT.

 

You have hit on the perfect example of the markets and the media and the poor investor....Emmett.

Oldmanram.....yeah hurry up. You are going to have an even CRAZIER local government after the next election in November from what I am seeing.

Of course where I am.....AUSTIN.....is not much better. The ONLY saving grace for me is I live just outside the city limit.......so my usual response.....I DONT CARE. We are lucky that the state legislature passed a law last year that PROHIBITS cities from annexing areas without a positive vote of the residents of those areas. That should kill any chance that we will ever become part of Austin.......at least in my lifetime. BUT.....I guess you never know since every new resident in this area is from California.