This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Global Leadership Crisis: Dave's Daily

The further down the road we go without confronting problems head on, the more difficult things become. Globally, there is a lack of political will, honesty and leadership. It's the Achilles Heel of the election cycle where politicians and central bankers are too afraid of making serious decisions fearing they'd lose their jobs. We go along with band-aids, useless stimulus, money printing and hope. It's BS and smoke and mirrors policies. If your life was on the line you'd do what you could to save it, wouldn't you? But in our global political world, being honest with people doesn't pay with votes--they mislead you with weak policies and Kool Aid spin.

"Trust us" is their mantra. 

Trust us? Not a chance. Their credibility is shot.

It's no wonder investors are fleeing markets. Over $200 billion in equity mutual funds have left the markets since 2010. As I update our Top Ten ETF lists by sector, I see assets under management (AUM) declining 25-45% just in the last four months.

The great October stock rally was a "eurozone is fixed" mirage.

Thursday markets received mixed economic news in the U.S. as Jobless Claims fell somewhat (higher previous revisions again and people dropping off the rolls like flies accounts for some of this) and a poor Philly Fed Survey (3.6 vs 9 expected and previous 8.7). Housing Starts were unchanged, and frankly we don't need more home construction.

The eurozone and U.S. congress remain at the epicenter of current troubles. France wants the ECB to be the lender of last resort in the euro zone while Germany doesn't. Spanish bond yields climbed to euro area record at 6.80%. Meanwhile the congressional deficit committee remains at a stalemate over just coming up with a pittance in deficit cuts. The process is laughable as are the "talking points" participants.

Stocks hit the skids as HFTs were in full gear. And, you probably could care less that its options expiration Friday but this enhanced the sell-off Thursday. Hardly any asset was safe from selling including commodities where crude oil dropped 3.67%, gold fell 3%, silver 7%, copper 3.5% and so forth. The dollar was flat if only due to repatriation to Europe but U.S. bonds were quite strong.

You could pick a few downside leaders but financials (XLF), materials (XLB) and tech (XLK) will do just to get you started.

Volume was the heaviest on the week so far and breadth per the WSJ was quite negative with some sectors at another 10/90 day.

 You can follow our pithy comments on twitter and join the conversation with me on facebook.

Continue to U.S. Sector, Stocks & Bond ETFs
1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BAC $14.56 0.00%
C $46.28 0.00%
DJP $23.63 0.00%
GLD $123.65 0.00%
KBE $32.45 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs