Market Currents

• Wednesday, September 23, 2009

• 15:34 PM [[SPX]] performance on the average "Fed day" has exceeded non-FOMC days by 7.5 times (see chart, via). Though today may be an exception; indexes have sold off and are now between 0.1% and 0.3% in the red. Comment!

• Tuesday, September 15, 2009

• 12:15 PM For better or worse, fear is receding as a motivator, so where's the new confidence? Big investors are heading overseas to make up losses. The iShares MCSI Emerging Markets ETF (EEM) has rallied 52% this year, vs. 16% for the S&P 500 (SPX). Comment!

• Thursday, September 10, 2009

• 12:52 PM Are stocks cheap or expensive? According to how many hours of labor it takes to buy the ((SPX)), the answer is somewhere in the middle. Comment!