A Whiff Of Bear Is In The Air For Stock Markets

November 19, 2013

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I predict a stock market decline for Tuesday, November 19th, 2013

The Fortune Teller Speaks:

I believe a whiff of bear is in the air, and I believe stock markets will continue to decline due to lessened investor enthusiasm.

Wall Street Beats & Jives:

Dr. Bernanke is supposed to speak today, that may or may not alter my prediction. Investors in general seemed spooked by Carl Icahn’s “big drop” for equity markets comment yesterday (its about time markets make a big drop). Furthermore, tomorrow brings us a huge day of expected negative economic reports, including Retail Sales, Consumer Price Index, and Existing Homesales data. All in all, fear appears to be settling in.

Hindsight is a Beach and We’re Playing On It:

Yesterday I was right until the early afternoon, as the S&P 500 (NYSEARCA:SPY) and Dow Jones Industrial Average (NYSEARCA:DIA) broke 1800 and 16,000 for the first time ever, respectively. Then the bulls died and I got crushed, with the exception of the Dow Jones Industrial Average (NYSEARCA:DIA), which finished up a meager .09% (which was a record all time high by the way). The S&P 500 (NYSEARCA:SPY) and the NASDAQ 100 (NASDAQ:QQQ) lost .37% and .93% respectively.

Are Stocks Driven by Greed and Speed or Fear?

Investors appear scared by the whiff of bear in the air. Maybe there is enough greed for one more record day? For my sake, I hope not.

Fun Fact:

A remote island resort off of the coast of Tanzania has built a hotel room which allows guests to sleep underwater. 6 guests have stayed in the room so far, and you can literally sleep with the sharks. Check it out here.