The Worst Is Not Over
The major indices are on pace for the worst day of the year, and there is no questioning what the catalyst is for this poor action. The only real mystery is why so many investors have been ignoring the steady flow of negative economic news we have seen lately. On Tuesday, the bulls were quick to dismiss the ADP jobs survey as totally irrelevant and almost had us back at the recent highs.
As I discussed, I believe the strength we have seen in the last couple of weeks was more a product of market players feeling like they might be properly positioned rather than any strong buying conviction. It was "wall of worry" action, but the big risk in a market that is climbing a wall of worry is that the worries may actually turn out to be justified, which is exactly what happened today....202 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.