That Sinking Feeling

The tape doesn't lie and watching the market this week has left me wondering about that summer rally I was expecting.  The economy looks much weaker than I anticipated and that is not good for stocks.  The housing market is particularly troubling and without a housing recovery economic growth is doomed.  At the same time the employment situation remains horrid.  I wish Obama spent more time trying to devise plans to stimulate the economy as opposed to playing golf.  To be sure, strong second quarter earnings could still prompt a rally, but for now I'm thinking about returning to the bearish camp. 

Leave a Reply

Your email address will not be published. Required fields are marked *