Markets and EconomySTILL A TRADING RANGE

Haven't blogged on markets lately because we have been range trading since January. Those of you who INVEST are doing fine. GWP revised down to 3.9 means zilch; inflation at 2.0 annual ditto. Interest rates will go up 1/4 and is already "priced into the market". Just use market generated info, pay no attention to the hustlers, hawkers, and touts. As I said a while back, we are in very perilous times and you should be scaling out of profitable positions so that you are in your stocks with no risk. This from my April 3rd piece still holds:

Our markets? Still in a trading range in spite of all the data. Keep in mind that the "trading" of a billion plus shares each day is being done by gamblers looking to scalp a few 1/8ths and mutual fund fakers trying to look good by "locking in" profitable stock trading practices instead of buying stocks which pay dividends and passing these dividends on to their customers. Fuck them. Use your market generated info. Look for buying opportunities in new companies (not Google) with new products and hope the war in Iraq finally goes well. Rates will rise, and this is GOOD for the economy, especially for seniors with savings accounts.