The top end of the market range held again. Try as it might, it can’t break through. As I keep saying, until Europe and the U.S. deliver plans to address their respective debt issues, the market will just keep on rollin’ up and down, up and down …
Today is another interesting day for the news, especially the news coming out of Europe. Call me crazy, but is there a huge political battle going on over there Okay, maybe it’s not so crazy to think that. In fact, it’s crazy if you don’t know that. Just go back to 2008 and remember what was going on politically in the U.S. My money is still on the big money, just as it was back in 2008 in the U.S. Oh, and speaking of the news …
Have you been able to come up with a strategy for filtering out the news that is distorting the real picture Do you have sources that you go to and are they the sole sources you use to get an accurate take on the goings on and if so, what are they
Two interesting questions, indeed, and I have answers for both, but the second question gets my first answer. Yes, I have my sources, the same sources available to everyone who tracks the news. No, I don’t limit myself to “sole” sources. I track numerous commercial sources across the spectrum, as well as non-commercial sources, such as the government economic research the St. Louis branch of the Federal Reserve Bank provides on its website (www.research.stlouisfed.org) and the broad array of U.S. government economic statistics available for anyone to access (www.nber.org/links/gov.html).
My answer to your first question is this – my strategy for filtering the news is easy and anyone can do it. Simply, “track numerous commercial sources across the spectrum, as well as non-commercial sources, such as the government economic research the St. Louis branch of the Federal Reserve Bank provides on its website (www.research.stlouisfed.org) and the broad array of U.S. government economic statistics available for anyone to access (www.nber.org/links/gov.html).”
When I go after the “breathless media,” it is not because the media in general is not reporting all the news. I do it because the breathless media primarily hypes and then hammers the sensational, which is often bad news. Unfortunately, many of us don’t get past the breathless media, the 30-minutes of evening news, or any one of the myriad 24-hour cable news shows, which for many are their “sole” source of news. This is where the problem is because these sources compete strongly for market share. If you watch them, they often have the same stories, in the same slots, with the same slant. If this is the main source of news for most (and it is), then the picture is distorted causing consumers, businesses, and investors to act irrationally. Consumers stop spending, businesses stop expanding, and investors stop investing or they (investors) jump in and out of the market depending on the news of the day.
So, reach out and get the information. It is out there; it just requires a bit of effort to get it.
Trade in the day – Invest in your life …
