Thoughtfully Stuck!
Here we are several months into the strongest stock market rally in the history of the world and still no jobs. Today marked the start of a double top on the Bulk Dry Index at 4000, a level last seen in June 2009. The june time frame also posed a challenge to a stock market that was having difficulty extending the market rally that had been going on since March 9th 2009. The question is are we beginning to see an uptick in global growth through shipping level pricing? Transportations stocks were getting thumped on the Dow Jones Index until Warren Buffet made a play for BNI. That moved markets along with UPS giving a hopeful conference call on the holiday shipping rates and volumes.
Regardless of the current market. It is not trading on fundamentals, merely behavioral momentum. At the end of the day it is about jobs. And there is no way to fake unemployment. Additionally, you have more corporate layoffs and now state and local governments contributing to the job cuts.
Be patient.
"Greg Gilbert and James Simos" are registered representatives of FINRA member firm, "Infinity Financial Services."
