The World Bank knows diddily
Steve Cook on Disciplined Investing


Have You Seen This?


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Have You Seen This?


   This Week’s Data

    The International Council of Shopping Centers reported weekly sales from major retailers unchanged from the prior week and down 0.9% on a year over year basis;  Redbook Research reported month to date retail chain store sales off 4.4% versus the same period a month ago and down 4.2% versus the comparable period a year ago.


    A broad look at employment from EF Hutton:


    The deflation hawks continue to press their case:

    Update on the TIPS spread (graph):

    Obama will soon be able to reshape the FOMC:

    A statistical comparison of 1929 and today:

    More bad news on commercial real estate prices:



More from George Will on Obamacare:

   The newest tactic (deception) to push healthcare forward:

  International War Against Radical Islam

The Market

    Stocks took it on the chin yesterday though the Averages (DJIA 8339, S&P 893) remain above the 8220, 876 February high support level.  Unfortunately, the chart service to which I subscribe has been having technical problems; so I haven’t been able to do my normal chart work.  Hopefully, this gets fixed quickly.
    Thoughts from TraderFeed:

    Insider selling near highs; that’s not good news:
As you know by mid day yesterday, I thought that stock prices had suffered enough to warrant spending about 10% of our Portfolios’ cash positions (cash went from 29% to 26%).  Prices are close enough to S&P 876 now that I intend to watch any further challenge to the 876 support level.  If it holds, our Portfolios will put additional reserves to work


    The focus of most media discussions yesterday was a new World Bank report that was somewhat pessimistic about global growth.  I have to tell you, I saw that report right after it was issued and didn’t think it important enough to mention or link to.  So what do I know?

    I will say that the World Bank hasn’t been right about anything it has ever forecast in the forty years I have been in the business.  So you get a flavor for why I was unimpressed by the report.  Besides the report really didn’t add any insights to the current debate about the economy; and if you think their forecast is down beat, read Nourial Roubini’s.

    Ignore this.  Investors’ mood has turned negative.

Posted 06-23-2009 8:23 AM by Steve Cook
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