The financial markets generally are unpredictable. So that one has to have different scenarios.. The idea that you can actually predict what's going to happen contradicts my way of looking at the market.
- George Soros
Hopefully positive reports out of Europe give s a boost today.
On TSP Center 8 of the top 20 investors have gone back into stocks! BUT, the one everyone is watching, the famous prophet, #1 overall, remains on the sidelines.
And #4 has a very interesting established track record too, also on the sidelines.
This week the indices have suffered their biggest market losses since the week ending July 2, six weeks ago. I guess the range bound theory remains in place..........
More bad news to come out today? Here is what the CNBC economic calendar shows will be hitting us today, and if the recent trend continues, all of them will disappoint. I think the consumer sentiment index will have the most impact, and it will probably not be good.
At 8:30am ET, economists are expecting to see a 0.4% gain for July retail sales, which would follow a 0.5% decline in June. Excluding autos, sales are forecast to have risen 0.3% after June's 0.1% drop.
The July consumer price index is also out at 8:30am ET, with consensus forecasts calling for a 0.3% rise after a 0.1% fall in June. The core rate, figured without the food and energy components, should rise 0.1% after a June increase of 0.2%.
At 9:55am ET, the University of Michigan is out with its monthly consumer sentiment index. The August reading is expected to come in at 69.8, up from July's 67.8.
And at 10am ET, a busy morning of statistics concludes with June business inventories, with analysts forecasting a 0.2% rise after 0.1% increase in May.
Kansas City Federal Reserve President Thomas Hoenig will speak at 11:30am ET in Lincoln, Nebraska, with his talk centering on U.S. economic security.
I've received a higher than normal volume of emails the last few days. If I haven't responded it is not because I am intentionally ignoring you, just trying to catch up here on a lot of loose ends. I will respond soon.
Sell In May and Go Away - Any ways, it looks like the old sell in May and go away theory would have been prudent..........
Sell In May and Go Away?