MARKET COMMENT
Dave Fry’s ETF Digest, August 24, 2009
I suppose it depends what you’re doing or your positions but it was a slow day. A few markets a little more stretched than others (gold and Uncle Buck) managed to reverse course some, but other than that I was drumming my fingers. It was a quiet day for economic data and we’re near the end of earnings news and summer for that matter. The latter goes by way too fast doesn’t it?
Long time bear Nouriel Roubini penned a negative outlook for the economy in this piece from FT.com. In it he discussed the risks of a “W” shaped economic future with a double dip recession likely. Many concur with this view.
Others believe the stimulus from liquidity is still in the system keeping conditions ripe for risk takers and the Fed will be loathe to upset these conditions.
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