Yeah, The Economy Is Bad, But Here’s Why We See The Markets Getting Better
I don’t know about you, but even as a child I always ate my vegetables before the rest of my meal. Why? Because then I got the “bad” over with and could savor the “good” stuff freely.
So with that mentality still in mind, brace yourselves because I’m going to hit you with some further bad news…
Contrary to the sunny notion of bright futures, clean slates and new beginnings, it looks like the U.S. economy isn’t out of the woods yet. We knew that already of course. That’s what all of the experts have been saying for weeks now. But while originally they were roughly calling for a turnaround mid-2009, now they’re predicting that the majority of the 2009 will be marked with further turmoil.
Now on to the good news… and yes, there is some. Markets are known to recover before economies. And right now, we seem to be seeing either the beginning of that or the end of the end.
And The Expert Says…
Let me quote Jim Stanton, our resident Quantitative/Technical Analyst who studies market charts like fortune tellers study the stars. If anybody has a good handle on where the markets are going, it’s him.
“With another holiday-shortened week ahead of us, I expect the lighter trading to continue. Then again, since it is the end of the quarter not to mention the end of the year, we may see a bit of action.
“Barring any significant sells signals, the intermediate-term outlook is unchanged. The trend remains bullish though the three major indexes haven’t been able to close above their December 8 highs. The smaller cap indexes along with the NYSE Composite and Wilshire 5000 had better luck over the last two weeks, though they pulled back as well.”
That’s taken directly from this morning’s 1-2-3 Trader, a Mt. Vernon Research VIP Trading Service that offers both stock and option recommendations for maximum profits.
If you don’t read market speak fluently, don’t worry; the above quote simply means that things are looking up. So amid the economic bludgeoning we’re apparently going to get in the coming months, know that the markets should start looking up significantly.
Monday, December 29, 2008 — by Jeannette Di Louie, Assistant Editor of Mt. Vernon Research
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