Yep, time for another little (we hope) correction in the market. The DJI was down $168.32 today alone, and it was down every day this week except Tuesday. The low, lower, lowest unemployment reports, like this one in the WSJ, aren’t helping. Analysts are surprised, naturally. As surprised as they are about lower revenue and/or earnings reports coming in.
Like generals everywhere, analysts are always expecting yesterday’s results to repeat today. And they DO! Most of the time, except when they don’t.
Commodities today were mixed. Gold closed up about $6 to $1642.10/oz; silver is up $0.27 to $30.34/oz. The good news is that oil also closed below $100/bbl to $98.60.
And now for the monkey portfolio, the MPI. Down, but still up way more than the great IFO’s own portfolio. We shoulda listened to the monkeys!