Friday Outlook: Commodities, Emerging Markets

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Oversold conditions are being worked off and this coincides nicely with the end-of-month paint job to prop markets.

Perhaps the next step will be to reshort.

The election is a big issue. According to a recent report a switch from the GOP to Democrats is usually followed by a 10% increase in stock averages. Given current conditions that would be realized in a day!

Earnings are not good and thus far are down 23% for the quarter, reduced from a negative 11% from July and a positive 17% from April. So corporates are continuing to deteriorate, as do overall economic conditions.

I didn’t post yesterday due to injuring my back which made sitting at the desk uncomfortable. But I follow my friend’s instructions [you know who you are] which are to get your anti-inflammatory meds and throw away the directions. Other than hemorrhaging, blowing out kidneys and liver, I’m doing great thank you very much.

Have a great weekend!

Disclaimer: The ETF Digest has no positions.

Comments

[fatcat:]

Great article,Dave...I sensed you were a little depressed in the last few writings.This is a depressing situation for everyone...just have to "dance with the one who brung ya" ,as the old folks say...

2008 Oct 31 05:22 AM

[ur2smrt4me:]

IPE is another TIPS ETF

2008 Oct 31 08:08 AM

[David Fry:]

Good point UR2........in the rush forgot to include IPE. Thanks.

2008 Oct 31 08:51 AM

[WorldWatching:]

Intuitive sobering view.
Once again, thanks; please keep it coming.
Best Regards,
James

2008 Oct 31 10:45 AM

[dc1:]

Hi David. You were missed. Take better care of yourself and keep the great charts and comments coming.

2008 Oct 31 03:17 PM

[Roowns:]

I didn't missed one chart in last 6 month. You are doing a great job.

2008 Oct 31 04:04 PM

[adan:]

take care of yourself - but don't "short" your future :-)

do what you can as you can, it's always great welcome work

thank you much

2008 Nov 01 04:14 PM

[David Fry:]

thanks everyone!

2008 Nov 01 05:49 PM

[FWallace:]

Ditto... glad you're back, hope you feel better.

2008 Nov 01 09:15 PM