July 17, 2015 Recent economic numbers SUKK. GDP, retail sales, industrial production are lousy. You wouldn’t know it listening to this corrupt administration.
Companies are buying back their own shares which reduces the float and makes their earnings look BETTER. More manipulation and the market has been heading higher recently.
BE ALERT. This market has been in consolidation for months. It will either break up big or break down big.
Don’t get caught with your pants down. We will give you our thoughts as we proceed. But that is only our opinion….and our crystal ball is often wrong. Just be prepared to sell.
On interest rates: We feel there is no way that the Fed can increase their overnight rates with the way this economy is operating. How the hell can you see a growing economy with millions of people out of work and collecting money from the government. So we continue holding interest rate sensitive positions in the Core Portfolio.
Yesterday we mentioned Marilyn Cohen, a bond guru that we follow. She is giving a speech tomorrow and you can watch online. Go to this link:
New business CLOSURES are HIGHER than new business startups. And we are being told everything is looking great. LOLOL