The Sky is Still Blue
When every investor you know is tempted to throw in the towel again, you should check the sky. Is it still blue above the clouds, or is it really falling?
When the stock market indices fall day after day, week after week, it is enough to dampen even my optimism.
I often find in retrospect this situation signals a change of direction is ready to occur. This provides a new opportunity to redirect cash we accumulated by selling weak positions on the way down and to buy stronger choices at lower prices.
So open your mind a bit and let some sunshine in. You have received plenty of bad news already.
The greatest factor in economic demand and production is the American consumer. Although our Congress cannot fathom the concept, our citizens get it and have been paying down debt such that their total financial obligations (as a percentage of disposable income) have fallen about 13 percent in the past three years. Payments for mortgages and consumer debt have fallen to about 11.5 percent of available income, a figure not seen since the late 1990s.
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