Are The Markets Heading Up Or Down?
By Russell K. Jalbert
Retirement planning expert Russell.Jalbert opines about the recent stock market performance in the last quarter of 2009. Jalbert notes in his newsletter:
Who knows? It looks like volatility is the likely winner.
When the year started, the markets were heading down and heading down fast. But for the past six months, things have improved and the markets have been heading up as fast as they went down.
Now let"s be clear "" markets moving up are what you and I both want. What we don"t want, however, are markets moving up when the underlying economics do not support that upward move.
Why not? Simple. When the economics don"t support upward movement, then markets have a way of crashing back down in a hurry. And no one wants that!
Of particular concern right now is our banking system, the linchpin of our economy. It seems like everyone is acting as though everything is better now," when the reality is something else altogether.
One of Wall Street"s top banking analysts says that the credit crunch is not over yet, and companies are still having a hard time getting credit. When companies cannot get credit, it's really hard for the economy to grow.
Next, we learn that FDIC is taking extraordinary measures to shore up its hard-hit reserves.
And just to show that it"s not only our banking system that's still touch and go, we are told that ten major companies are teetering on the verge of bankruptcy
Now, I"m hopeful that the markets will continue their upward march. I"m just concerned that too many investors are rushing in with "hope" and not enough "justification."
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