So the news says the US government is shut down – based on reports from the US administration. 17% of the government is shut down, 83% is not shut down, and many employees have been recalled. (We are also going to pay them for not working.) 83% is the same number of students who attend high school in New York on an average day. Maybe New York high schools are shut down. It is also interesting the the EPA says 93% of their employees are not essential – I think that is 7% too low.
The news says US government is going to default and destroy the world economy based on reports from the US administration. The US is not going to default (this time) – it gets twice the income needed to pay the interest every day – now some programs may have to be cut. Any number of US administration officials and news outlets are projecting disaster. The US public is being lied to and played for suckers so the US administration can get what it wants. Keep lying and the public will believe and worse, it may come true. I think this month’s market actions are an indication these lies are working and it is our investments the lies are killing.
Investors Business Daily (IBD) changed the market outlook to “Market in Correction” Tuesday PM.
I wrote the above on Wednesday, then BHO nominated Yellen to become next fed chief. The belief is her views on printing money makes Bernanke look like a tight wad. The market believing bigger floods of money are coming, took off.
On Thursday. IBD changed the market outlook to “Uprend under pressure” on Wednesday PM.
The Dividend Aristocrats are S&P 500 constituents that have increased their dividend payouts for 25 consecutive years. Currently there are 54 stocks on the list. This week a new ETF was launched which purchases these stocks – NOBL. It may be a good ETF to watch – http://investorplace.com/2013/
This last week and next week until Wednesday is excessively busy with tax filings for those with extensions. At this time I do not have time to produce my normal price lists. I will put out an update as soon as I can.
SAutomotive and JapanSmallerCompanies are doing ok, but SBiotechnology is not. Based on just the 5% decline from the highest weekly close since owned, it should be sold and I have a 3.2% loss on my position. However, I have not owned it for 30 days and do not want to violate the dumb, stupid Fidelity rule on round trip trades. They get nasty. Next week I will have owned it 30 days and we shall see what happens.