A downtrend since almost the beginning of the month (including a big down day yesterday) followed by a strong Spanish auction, good housing starts data and an unexpected rise in German business confidence are the recipe for the strong bounce we’re seeing today (the S&P500 is up over 2.5% today as I type). We’re still down around 2% for the year and I still think the Santa Claus rally takes us to 0% or slightly higher for the year.
The Stock Market - Investing & Trading
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A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. Warren Buffett, "Buy American, I am." Op-Ed, The New York Times, October 16, 2008.
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Tuesday, December 20, 2011
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