Month End Wrap Up

When watching "the tape".....for many years you try to see what it is saying.....

With all the "bad news" coming from the media...on just about everything....The most important, best run, with the strongest balance sheet top 100 companies in the world are NOT making new lows...in fact they are doing pretty well... all things considered.....in other words they are out performing the less desirable assets.

In month end (and year end) situations like now.....portfolio managers add to those positions. What is challenging for this year is tax loss selling....some of the second tier companies are getting creamed...traders/ investors are taking their losses.

So the "tape" has to be taken in whole given these important variables.

Spending cuts? Who will vote for them? 21,300,000 people work for the government...plus spouses... equals 32% of the voting population will continue to support NO CUTS.

A very smart long time market investor was quoted this week saying, "When it's time to buy, you won't want to. When it's time to sell, you don't want to." Additionally, he said "Go global, don't follow the herd, remember that investing isn't about the warm fuzzies, opinions are for show; numbers are for dough and BE CONSERVATIVE."

We agree.

Also remember the only way out of this debt mess is to print new money. This is bad for bonds, inflationary and good for the right stocks.

Danny Boy seen here looking forward to winter....having survived the autumn.