Morning Commentary
It’s another day, and the market is grappling with how to get out the starting block. Thus far, earnings have been largely mixed. Although there are no disasters, there aren't any homeruns, either.
The day after the Fed minutes, Wall Street continues to wonder about the next move. While it's clear the folks at the Fed are restless, most of the hawkish-leaning came before that giant jobs report miss. Now, this morning, initial jobless claims have come in higher than anticipated. It's one thing for the Fed to ignore that this has been a wage-less recovery, but jobs going in reverse usually gets the Fed to lower rates.
Bubble Land
It's the hottest stock market in the world and the one many are saying will set off a string of crashes as the first domino.
The Chinese stock market has taken off like a rocket, led by technology stocks now trading at 220 times earnings.
But the action is being fueled by typical easy money sloshing around the country, and the market as borrowed funds have spiked beyond belief and logic.
Of course that's the rub for detractors, maybe this crowd isn't used to implementing logic or critical thinking in general. New investors are pouring in at such a feverish pace; 1.7 million accounts were opened last week alone.
But right now, 67.6% of these new investors have an education level lower than a high school understanding.
The China stock bubble...it looks real, but doesn't mean it pops right away. Moreover, it actually lends credence to the notion American exchanges aren't in bubbles.
Comments |
re: chinese education levels, these are some very uneducated citizens , no wonder why the Red machine can take advantage of Her people. Very sad , imo _JJA_ on 4/9/2015 12:33:23 PM |
Charles- The earnings results from STZ and WBA are not "homeruns"??!! Then please tell me what is??!! Charles, please do not succumb to how the market reacts -- that is, nothing is ever good enough!! I would say that extraordinary results qualifies as very, very positive so let's be happy and acknowledge that. There has to be a time when good news is recognized as good news!! That is usually you. What happened?? Dick Denecker Dick Denecker on 4/9/2015 6:17:41 PM |
Not having perfect knowledge here, but it is my impression that a poorly educated Chinese, is better educated than a westerner with an average education. Bubbles and irrational exuberance has less to do with education level than with basic human nature paul meyrhoff on 4/11/2015 3:22:37 AM |
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