A market letter to which I have recently subscribed has turned ulta-bearish. Global Money Trends is forecasting a further 20% decline in the Dow to 6000. Gary Dorsch is the author and he provides a convincing forecast based upon historic comparison to Japan’s lost decade. Dorsch’s descriptions of current economic collapses in Korea and Japan and the effects upon the US could drive one to mid-day drink. You can subscribe here: Global Money Trends newsletter
This will be an announcement driven week. The President has something almost every day. And the governors conference will add to the news.
The AAII investment sentiment readings plummeted last week. Two weeks ago the bearish sentiment was 39.2%, last week it was 56.7%. I figure we need to get a 70%+ reading before everything is flushed out.
In the last week consensus estimates for fiscal ’09 for Teva has gone from $2.89 to $3.22. The company’s guidance is a range of $2.85 – $3.05.
The overnight trade in gold will be important. More and more pundits are suggesting it is time for a rest in the rise of gold. It would not be surprising to see a drop from current $1000/oz to $950/oz. I would add more at that level.
Have you read Tracy Kidder’s book Mountains Beyond Mountains? You should. It describes the efforts of Dr Paul Farmer in Haiti, Peru, Russia and elsewhere. Farmer is an extraordinary person who selflessly treats the world’s poorest and the untreatable. Farmer operates Partners in Health out of Boston. Partners In Health (PIH), Health Care for the Poor
I am spending some time putting together my buy list when/as and if we ever get a confirmed uptrend. I have the feeling the names will change daily.
Got aching joints? Me too. One of my eye doctors is a lifter; he goes to Gold’s Gym and body-builds. He gets real achy elbows, as do I. He told me about Voltaren Gel. I got a prescription from my internist and it seems to work. I don’t use it all the time but when I do it brings pretty good relief. Be sure to read the side effects and discuss with your physician. Voltaren Gel: 10 Things You Need to Know
Is Ford (F) a speculative buy? I keep reading good reviews for their cars, SUV’s and trucks. And, Barron’s suggested Ford may have the staying power if total production increases something over the current 10 million units. It may or may not be a longer term idea but it remains a heck of a day trading vehicle.
