THERE AND BACK AGAIN
See, if you step back, you see why it is possible to "over-interpret" stock market moves.
During February, the outlook worsened, based on a few housing market indicators. During March, the outlook didn't improve, but the acceleration to the downside stopped.
In the stock market, that was worth a huge sum. Shows how risky things are, right now. We just had a big round-trip past a new precipice, that's all.
Meanwhile, here is a chart comparing where we are vis-a-vis the Japan real-estate bubble cycle (Nikkei all-time high, Dec-89, US stock high, Oct-07). Either it has a wealth of information or it means nothing ...:
Friday, April 3, 2009
Market Cheerleading
