Of course, we have some worse earnings report than we knew we had last week. We have a further decline in the Baltic Dry Index continuing to fall at an incredible rate -- hence why the cyclicals have no traction. We have commodities continuing to plummet, all signs of a severe recession.
But if you are buying now, you have to be thinking that at some point within the next year these companies will be in better shape, because the industrial economy will begin to reflect some of the money that's endlessly being pumped into the system.
It is simply a better time to buy than when we hit these levels last time.
The Blue-Chip Market Is Over Originally published on Friday, Oct. 13, at 2:43 p.m. EDT Does the market work? Is it worthwhile as a way to make money? Can it be counted on to do what it used to do, which is create wealth by investing in good companies and holding them over time?