THE WORST NEWS IN THE WORLD RIGHT NOW comes in the form of the IYF; iShares Financial Fund (IYF).
This fund is loaded with companies like Goldman Sachs, JPMorgan, American Express, and Bank of America. These firms live and die according to America's ability to conduct business, spend extra cash, and pay off debts. Yesterday, the IYF blasted through the $34-per-share level it reached during the November panic... and it now trades for around $31 per share.
Stock prices, GDP, and employment in America all go up over the long term. But for now we have to respect what the market is telling us- to be very cautious. If the IYF keeps on sliding, it's a sign the stimulus and bailout isn't working... and times are getting worse.
... Brian's Hunt Market Notes.
This fund is loaded with companies like Goldman Sachs, JPMorgan, American Express, and Bank of America. These firms live and die according to America's ability to conduct business, spend extra cash, and pay off debts. Yesterday, the IYF blasted through the $34-per-share level it reached during the November panic... and it now trades for around $31 per share.
Stock prices, GDP, and employment in America all go up over the long term. But for now we have to respect what the market is telling us- to be very cautious. If the IYF keeps on sliding, it's a sign the stimulus and bailout isn't working... and times are getting worse.
... Brian's Hunt Market Notes.
IYF must stay above 35 to indicate the worst may be over.
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