Green Beer and Green Screens
How can it be a “green” Saint Patrick’s-themed day on my Bloomberg screen when first thing I am watching on the TV is Meredith Whitney on CNBC? I guess Jon Stewart’s criticism of CNBC’s ever positive spin is filtering through to the CNBC producers. Maybe it is a bottom?
I was having hope that we had bottomed until American Express yesterday afternoon. Now I guess I am in Missouri show-me mode. If we are bottoming, I want to see some “dow theory” things : 1) 6% yield on the dow with single P/E’s, 2) a dramatic non-confirmation by either the Industrials or the Transports, and maybe 3) a long low-volatility, boring, several month sideways move where we move higher on markedly increased volume.
The last thing mentioned above is the most important to me. It seems we need some time to achieve that. For today, I wish you all green-beer and green screens.