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2011.08 Is it time to accumulate stocks?
Is it time to buy stocks?
US stocks are at or near the lows of the year. Is it time to buy or accumulate?
Gold hits latest record high, near $1,830- AP
Rate on 30-year mortgage falls to lowest on record- AP
Philly Fed factory activity plummets in August- Reuters
Jobless claims rise 9,000 - Reuters
Home sales dropped 3.5 pct. in July, hit 2011 low- AP
Oil falls sharply as banks cut growth forecasts- Bloomberg
A second Great Depression, or worse?- NYTimes
S&P under investigation: The backlash begins- Breakout
Fear (VIX) Spike
Spike in volatility indices usually signals a market bottom.
SPY seems to have broken recent support levels.
Summer is usually not good for stocks. Wait till September to buy.
Buying when SPY is below 200 day moving average is a good relative value.
US Debt Deal
US Debt deal may result in spending cuts and economic slow down.
Reasonable P/E Ratio
Company earnings have been reasonably good and current
Indiscriminate selling usually signals a market bottom.
News in the media is too negative and pessimistic - double dip recession, sovereign debt problems, etc. This is usually a contrary indicator.
Sea of Red
For the first time in history, all 500 stocks in S&P500 index went down!
No Panic Among Pros
, excluding ETFs, hit $9.4 billion last week, surpassing the $9.2 billion outflow during a week in October 2008 and the most since 2002.
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