I feel better already. Bernanke says everything is copesetic, and, he added, just in case the economy is not improving fast enough, things are sure to be a lot better in coming months. Bernanke hinted that he may not be available for another term as Fed Chairman (it sounds as though Yellen would be the next choice). Bernanke notes that unemployment is a bit on the high side, and for this reason the Fed will continue (to infinity?) its high-powered manipulations.
As for the stock market, there has been some deterioration. Distribution days are starting to add up with three on the S&P 500 and three for the Nasdaq. Bullish investment advisors are now at 47% and bearish advisers are now down to 18%, according to Investors Intelligence.
This morning the Dow sank as low as minus 92 points, at which time I came close to dumping my DIAs. But I decided that ... Log in or subscribe to continue reading.
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