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Friday July 28,2000
The ‘Not so’ Sensational Stock Market
Is it Bloody enough?
I think it just might be.
To have a bloody market during times of historical prosperity can mean two things in my opinion.
One, the great economic ship is about to sink for all the reasons Bears fear
The stock market is simply taking a breath after posting huge gains late last year and early this year.
Looking at the big picture I must go with the notion that enough blood has again been spilt!
Opposite of late December last year and early this year when I held the opinion that, the market needed to catch it’s breath for a bit!
Market Gains last year and during the first few months of this year in my opinion simply foretold the current conditions the US economy now realizes. Those Gains should again be attainable as long as the economy catches up, which I feel it is doing.
The question is can the economy move forward rather than reverse?
I say why not and put the buying shoes on !
And don’t tell me the Fed is going raise rates to a level where the cost of money is going to cause a severe decline, I have heard that too many times before. The last thing the Fed wants to do is stop the economy while it
re-tools for the next generation!
A ship in harbor does not Sail !