If you’re a Bull, then I’m sure you’ve been delighted with the performance of the stock market this past week, and the beginning of the second quarter.
I won’t repost results that you can find elsewhere, but suffice it to say, the market really made a comeback in spite of worsening economic data. Here’s a list of some good places to follow weekly market results:
- Briefing.com: Weekly Wrap
- Vanguard.com: Economic Week in Review
- CNBC.com, By The Numbers: Market 360
There’s an old adage that says the market usually turns around before the economy. A lot of folks are now saying that all the bad news has already been factored in, and that the market has bottomed-out. Well, I’m a little skeptical. I still think that the market’s in for more bad news and lower price levels. Corporate profits are going to be hit hard soon, and profits are what drives stock prices. Let’s see if the PPT can manipulate that. 
But, don’t just take my word for it. Listen in to what Standard & Poor’s Equity Research has forecast for the remainder of the year and decide for yourself:
Earnings Outlook: Rebound or Repeat? (mp3 audio)
So, I’m still waiting on the sidelines, 100% of my retirement holdings invested in cash. Only time will tell if I’ll be left behind, or if my continued patience eventually pays off.
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