Who’s Propping up the Stock Market?

It was October 1989 and the stock market was in trouble. Two years after crashing 36% (including 20% in a single session) the S&P 500 had made a comeback and had climbed back to new all-time highs. But high inflation, slipping junk bond prices and failing S&Ls were in the headlines daily. On October 13, … continue reading →

We’ve Seen This Movie Before

I’ve seen one particular assessment over and over in the financial news this morning: The market’s rebound following Iran’s missile strikes last night was “surprising.” No, it is most certainly not surprising! Not even a little bit. Anyone who pays the least bit of attention to charts could have seen this coming a mile away. … continue reading →