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Rainy Days and Mondays: Dave's Daily

Stocks in this article: AMR FAA BAC MS XLF HYG LQD GLD

The better ISM Mfg Index was better than expected (511.6 vs 50.5 and prior 50.6) meaning there's growth but it's mild. Investors' concerns are still from the euro zone with contagion fears spreading to U.S. banks. How much exposure they have is the big question. This is what centrally planned economies offer--failures to address problems honestly, quickly and putting them in the rear view mirror. So what we have instead is BS and a lot of it. Transparency is missing and even as difficult as the truth may be sometimes it's just better to get it all over with and move on. Protecting losers is a poor strategy and policy.

Keynesian policies have failed and perhaps are just corrupted by the political process and cycle not to mention undue influence from Wall Street.

As of Monday, the major indexes are only a few points away from bear market territory with lesser indexes and sectors already in bear markets. That's the way it is period.

Let's see what happens.

Disclaimer: The ETF Digest maintains active ETF trading portfolio and a wide selection of ETFs away from portfolios in an independent listing. Current positions if any are embedded within charts. Our Lazy & Hedged Lazy Portfolios maintain the follow positions: SH, EFZ, EUM, VT, MGV, BND, BSV, VGT, VWO, VNO, IAU, DJCI, DJP, VMBS, VIG, ILF, EWA, IEV, EWC, EWJ, EWG, EWU, EWD, GXG, THD, AFK, BRAQ, CHIQ, TUR, & VNM.

 

The charts and comments are only the author's view of market activity and aren't recommendations to buy or sell any security.  Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period.  Chart annotations aren't predictive of any future market action rather they only demonstrate the author's opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com .

 

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.

Dave Fry is founder and publisher of ETF Digest, Dave's Daily blog and the best-selling book author of Create Your Own ETF Hedge Fund, A DIY Strategy for Private Wealth Management, published by Wiley Finance in 2008. A detailed bio is here: Dave Fry.

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