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S&P futures -1% after the disappointing NFP print. Treasury prices fly higher, the price on...
Apr 6 2012, 08:34 ET
after the disappointing
. Treasury prices fly higher, the price on the
long bond rising
about a full point and a half!
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The bulls are about to be washed out of the marketplace as it sells off.
The correction that is about to take place is a healthy one. Stocks are
relatively overpriced in relation to the economic improvement which
has thus far taken place. During the next two-three months, taking into consideration this earning quarter and the quarter to come in July, bullish enthusiasm will wane and stocks will seek, and find, a more equitable investment level.
The stock market should end the year considerably higher at the end of the year then it finds itself in July.
One positive result of this employment report: interest rates will remain quite low for some time and this has been the sustaining virtue of this market.
6 Apr 2012, 07:24 PM
The FED has been the sustaining virtue of this market not via low interest rates but through direct market intervention.
The FED will not allow any significant market correction until we start seeing signals of an interest rate increase,
It is a mistake to believe that our stock market is not coerced by the central banks, give credit where credit is due (pun intended)...
7 Apr 2012, 01:17 PM
Agreed. For months Ben has been saying we savers have to quit complaining about low interest rates and move into equities if we want return in excess of his inflation. Having said that, how could he now let the market correct more than a few percentage points? Buying opportunity!
8 Apr 2012, 06:58 PM
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