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Travel Day

Folks, today I’m making my way back from The Money Show in San Francisco, where I’ve been having a great time with my friends at Bull & Bear Institute and Investor’s Business Daily. It’s been a great time, and I’m definitely looking forward to the next event, which will be in Chicago in October. More details on that later.

Last Thursday I did an appearance on Larry Kudlow’s show in which I predicted we’d see one of those 700-800 point rip-your-heart-out-of-your-chest-if-you’re-short rallies. Guess what? That’s exactly what we’ve seen between Thursday and today—the first three-consecutive-day rally since early July. And just like that, we’re right back to where we were before the S&P downgrade.

With European markets closed today, no news was good news. I don’t expect that to last—the problems over there haven’t gone away, and I imagine we’ll see more focus on that throughout the rest of the week. We’re also scheduled to get CPI and PPI numbers, which are good indicators of inflationary pressure in the economy. Those will be important.

Something else that’s important to look at is this big story of Google’s $12.5 billion deal for Motorola Mobility. Corporate America is reinforcing the fact that the value out there is practically screaming in our faces. This may be the tip of the iceberg—even with the mini rally, we’re at a point where companies and investors alike can’t afford not to put money to work.

www.thejackbshow.com
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