The data that has been dripping in over the past few days doesn’t really show strength; although news today showed the recession may end quick with growth probable. Retail sales many times does grow before school starts and around the holidays. Should this news have made us go long today? I don’t think so.  Individual stocks like Target, Kohl’s, Costco, or Wal-Mart had a nice pick me up today on the retail news. Banks may still be in trouble, the deficit is high, foreclosure are growing, and the unemployment rate although better is still in the red. Too many moving parts for the market to go straight up. The market still may be 40-50 points over bought so we have to be smart here.

This entry was posted on Thursday, September 3rd, 2009 at 11:40 am and is filed under Financials. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.