It seems now very common place that the markets move triple digit with 80 and 90% volumes up or down of total volume, this used to be a RARE occurrence.
But we can say that this type of market behavior is more commonly found in BEAR MARKETS, know for their volatility.
One day all is lost the GREEK TRAGEDY. Next day the debt gets "RING FENCED" and the bailout mania continues. The next day a referendum spoils th emood and markets sell off, only to come rightback with a triple digit gain when that same referendum is called off. All this DRAMA!!
Yesterday the Dow lost almost 400 points! NO big deal right? It was just MORE DRAMA, coming this time from Italy....10 year yields SOARING to 7% !!! (here we pay 2% !!)
Today I see pre market futures plus 12 on the SPX, so I am guessing......just another day in the stock market, set your worries aside.
9% unemployment here almost 3 years after the BOTTOM CAME, and recovery was hailed, but don't tell that to the many who have been lost from the unemployment roles and benefits.
Mortgage companies are doing well, lots of ACTION buying and refi's with a 30 year mortgage UNDER 4% !! and maybe 1/2 point. This is great for anyone in the market for a home, maybe not so for those trying to make the payments.
LOW LOW HISTORIC LOWS in Consumer Confidence, a boatload of indicators NOT resembling any kind of recovery based on historical data.
A WORLDWIDE CONTAGION....financial crisis is obviously STILL IN PLAY.....act accordingly.
D
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