Market Outlook
We are about 90% invested at this point. The turnaround for the economy is now real and no longer just pep talk and BS as when Jim Cramer said the real estate market turn around was three months ago. Too many mortgage owners continue to lose their jobs. The real estate market still has not turned around and it cannot until unemployment begins to peak.
This week we have important reports that we believe will support the conclusion that the turn around actually began just this past month.
Wednesday, Oct. 14:
---Retail Sales am
--- FOMC minutes pm
Thursday, Oct. 15am:
--- Unemployment Claims
---Consumer Price Index
---NY State Mfg. Index
---Philly Fed Index
Friday, Oct. 16 am:
---Industrial Production
Capacity Utilization - Sep
---Consumer Sentiment
Market forces October 14
We are at a critical juncture. Failure to break out within the next two weeks could result in a significant correction. We are optimistic though and virtually fully invested again. The market has to rise 40% just to get to its 2007 levels. There is quite a bit of upward potential left.
Asian markets were up last night; China up 1.2%, Hong Kong up 2%, India closed, Japan down - 0.2%, and Seoul up 1.2%.
European markets are up sharply in a range from 1.8% to 2.4% this morning about half way through their day.
US pre-market are higher today by about 1% at 9:00 AM EST
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