David Fry | TalkMarkets | Page 10
Founder & Publisher of ETF Digest and author of the new series, "The Best ETFs"
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Dave Fry is founder and publisher of ETF Digest and best selling author of Create Your Own ETF Hedge Fund, A DIY Strategy for Private Wealth Management published by Wiley Finance in 2008. His new eBook, The Best ETFs: U.S. Equities, A Companion Guide to Building Your ETF Portfolio was released on ...more

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Markets Love Dovish Fed Minutes
The already overbought markets are still adding to previous gains. The primary focus remains the Fed can’t raise interest rates so bulls believe.
Bad News Bulls Strike Again
Clearly Friday’s rally was impressive in breadth and scope coming off bearish lows. It almost is similar to the reaction when the Fed cut interest rates in 1982 launching the great bull market that ensued.
Investors Do Not Trust Markets Just Yet
The two-way action whether daily or intraday, are enough to keep most investors on the sidelines.
Yogi Berra Maxim Applies To Markets As Well
Stocks were weak until JP Morgan told clients to start buying shares and presto, shares rallied sharply off the lows. Maybe the analyst got some bullish advice early from a leak of Janet Yellen’s speech after the close. Nothing would surprise me.
Markets Rather Dull Wednesday
Many were waiting for China’s PMI Index to reveal economic slowing, and it did dropping to 47 from 47.3. The decline looks modestly weak even if you accept their calculations to be fairly done, but this is the lowest reading in over 6 years.
Turnaround Tuesday Strikes Again
Tuesday featured heavy selling reversing Monday’s light volume rally. Sell day’s volume continues to overwhelm previous light volume rallies. The conclusion is “distribution” or “getting out” of markets is pervasive.
More Bad-News-Is-Good Monday
Existing Home Sales dropped 4.8% vs prior gain of 1.8%. This is disappointing and had been one of the better data point’s bulls and the Fed pointed to justify the economic growth as “solid”.
Fed Lab Experiments Could Fail
The hangover from yesterday’s Fed announcement and news conference was a dud. The FOMC is seeing its Keynesian experiments possibly fail as we’re now in the stretch run of the experiment which is the exit to interest rate normalization.
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