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Market Musings

When the market looks sick, it probably is ... at least, that is what Ernie Zahn used to tell me.  When I went to Wall Street in 1962. he had over 50 years of hands-on experience.

During the past two weeks, our trading portfolio has stayed on the sidelines.

The banking crisis is far from contained and if  you think the FED has a handle on the problem, think again.  They are the problem! The FED just added more fuel to the fire with the latest rate hike and Powell's comments.

The Minsky moment could happen anytime ... it is not just a problem in the U.S. but with CS failing and now Deutsche Bank faltering .. who knows what is ahead.

Have we reached the Minsky moment?  The dollar's reserve status is slipping away taking the U.S. economy towards a slippery slope.

Shadow Government Statistics suggests the Biden Administration economic reports are incorrect.

Dare I say that it will be at least another year of dismal U.S. and world economic growth.

And that is if we don't enter a major military war with either Russia or China.

Until Congress stops spending deficit dollars, the outlook is bleak. 

Do not be surprised if the NASDAQ falls through 8,000, the SPX to 2,500 and the DJIA sees the 25,000 level.

The Acc/Dis line of "A" rated stocks has quickly fallen below the red line to suggest that the bear market rally is over ...  caution is advised.

Remember -- "Only purchasing power counts!"

It is difficult to find long-term trading opportunities with the future so uncertain.

By any reasonable measure, this market is dangerous.

Be careful ....

To review the 03/10/2023 FlowChart, click here.

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