Where's the bottom?
Steve Cook on Disciplined Investing


Have You Seen This?


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Have You Seen This?


   This Week’s Data

    January personal income was reported up .4% versus expectations of a .3% decline;  most of the positive impact came from an increase in government employee pay raises.

    January personal spending was up .6% versus estimates of +.4%. ISM

    The January personal consumption expenditure (PCE) index rose .2%; the core PCE was up .1%.

    January construction spending fell 3.3% versus forecasts of a 1.8% decrease.

    The February Institute for Supply Management manufacturing index came in a 35.8 versus expectations of 35.6 and 34.0 recorded in January.  Remember any reading below 50.0 denotes contraction.


    Being honest about budget priorities:

    More perspective on the budget:

    What the AIG bailout means:   

    The congressional budget office on the stimulus plan:



  International War Against Radical Islam

    The latest from the UN:

The Market

    By the close yesterday, the Averages (DJIA 6763, S&P 700) left little doubt that the 10/01 and 11/08 support levels were no longer so.  As I have pointed out, the next visible support levels are a ways as way--a thirty year uptrend line (DJIA 3554, S&P 446) and the 1994 lows (DJIA 3871, S&P 581).  It is a bit sobering to consider.

Our investment strategy will now shift towards Portfolio weightings of 30-50% cash, gold 5-10% and the short S&P ETF 5-10%.  The transactions yesterday took our Portfolios to roughly 28% in cash, 6.5% in gold and 5% in the short S&P ETF.

Posted 03-03-2009 8:27 AM by Steve Cook