Wednesday, August 19, 2009

Noon market report --- why not?

The market today is interesting because it's so boring. Until a few minutes ago equities were treading water, generally directionless, and now there's a small spike up. Whatever happens is being done with low volumes and few stocks making any material moves up or down. Volumes are incredibly light in small caps, almost nothing going on, while the big large caps are seeing reasonable activity but the kind that is done so carefully on both sides that there is hardly any perceptible change.

This is August and it's about time for a break. In fact, however, there are no breaks anymore as our telecommunications infrastructure and new normal lifestyles make sure of that. Today is about multiple mixed signals, caution on some fronts as Asia stumbles momentarily and Buffet warns of longer term serious dollar pressures and many reports are somehow simultaneously focusing on the plight of state budgets. Countering that is analysis by a Goldman senior economist that the recession ended in June and that necessary inventory rebuilds will begin to revive the U.S. economy in the coming months, as well as an ongoing focus on so much dead money sitting on the sidelines that is perhaps being forced to think about a little more risk, a little more yield.

And that's it at noon today. Is this anything like what Bloomberg or CNBC or MSNBC or 1010 Wins said? I would hope not. Any more informative or accurate, who knows?


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