Chill Winds

As this is being written the cold winds of winter are blowing here in New York and I can’t help but think that the stock market is also in the deep freeze.  Harsh economic cross currents are blowing on Wall Street and investors are being chilled to the bone as they look at their shrinking portfolios.  Bears love cold weather and they now seem to be roaming the canyons of the financial district, and they are very likely to stay put for the time being.  Recession fears still are the most prominent worry and the deepening credit crisis is also giving reason for grave concern.  To be sure there are some attractive valuations to be found in some big name stocks but I still hesitate to recommend any wholesale buying binge.  I look for another rough day today for the stock market.

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