Monday, December 8, 2008 advertisement advertisement Motion vs. Movement In a Mid-October Insight we offered the following prediction: I believe we have now entered purgatory. Valuations are low enough, but we have too much uncertainty to expect an immediate up-trend. Government action has been announced, but not deployed. Until the markets get a chance to assess the impact of the programs, skepticism will act as a governor. While entering a trading range may not seem cause to celebrate, it’s certainly preferable. We could all use the rest. I wrote that on October 17th when the S&P traded for 918. Since then it has climbed as high as 1008 and fallen as low as 741. We ended last Friday, November 28, at 896 and closed Friday, December 5, at 876, 18% off the low point and 13% off the high point. While all of this motion has provided few opportunities for rest, it hasn’t produced any meaningful directional movement. In fact, of the 33 trading days since that email, there have been 16 up days and 17 down days. With a power vacuum in Washington, blackmail from Detroit, paralyzed credit markets, cascading jobs losses, municipal distress and the Titans loss to the Jets, one… Read full this story
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The 4 Horsemen of Recovery: Investor, Lender, Consumer and Multiplier have 309 words, post on www.fastcompany.com at December 7, 2008. This is cached page on Konitono. If you want remove this page, please contact us.