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  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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« Oil Price Moves on Mood, Not Supply and Demand | Main | .lDJIA up 20% Bear Market End? »

November 30, 2022

We Are Still Early in the Bear Market

Wed Nov 30 2022

Screen Shot 2022-11-30 at 3.52.30 PM

Wave two of three has extended further than we thought.  We are still early in the bear market, Richard Russell used to write that the bear is far more clever than the bull.

with a 500 and then another day down it just figures that the market jumps on Powell's pull back. Note the PMO has yet to break over to the downside but this brought us closer to that point.

My recommendation has been to buy closed end mutual funds like BLE

Screen Shot 2022-11-30 at 3.58.56 PM

 

That suggestion has worked well.  I think after all the worry about rates thru the roof, this may be a wave a retrace then a wave b down and then a wave c up, allowing us to add to this and reap some nice dividends.

Oil is all over the place, I am busy tomorrow but will have the weekly column Friday morn

 

 

Posted at 05:02 PM in Bonds |

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