We must never forget this -- the great primary trend of the market and the economy was last confirmed as bearish. In other words, the most powerful force in economics and the stock market continues, under Dow Theory, to point DOWN. Thus, yesterday's poor performance by the Averages should not have come as a surprise. It's only been due to the Fed's manipulative efforts that the primary bear trend has not been expressing itself all along.
If it had not been for the Fed, this market would be heading south in earnest. All of which points to the wisdom of being extremely cautious regarding our investments. We are in a bear market, but one that's being manipulated, with the help of astounding expenditures by the Federal Reserve. I'm afraid that the Fed's almost frantic counter-trend efforts will result in this bear market being much worse than it would have been if ... Log in or subscribe to continue reading.
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