Only a little bit ago we were reading how the end of the world “could “be very soon and how hedge funds recommended protecting your portfolio from the next crash. Our illustrative economist painted a very somber picture that of GDP and how we would be lucky if the 3rd quarter was 1%. Incidentally, it was 2.5% on 10/27/2011.
As of today, 9 out of 10 economic driven reports have been positive. Earning reports have been much better than what was expected and even job creation has stopped trending downward. The problem we face now is the indexes have gone from oversold to overbought in less than a month. So expect some consolidation before we resume our upward trend.
Please join us for our Halloween webinar special this coming Monday, October 30th at 3:00 pm CST. I will review the year, talk about what I am observing for the rest of the year and some changes to our various investment models. As we enter this presidential election year there will be both opportunities and challenges.
Talk to you on Halloween.