07-24-2009, 01:22 PM
As I agreed and said early, the market is only as good as the collective wisdom of the participants. I think when we start these talks, its important to distinguish between macro and micro theory. For example the price level in the stock market is, without a doubt, a leading indicator according to the Conference Board (the people who define what leading indicators are):
You can view the latest full report here:
http://www.conference-board.org/economic....cfm?cid=1
Quote:LEADING INDICATORS. Seven of the ten indicators that make up The Conference Board LEI for the U.S. increased in June. The positive contributors – beginning with the largest positive contributor – were interest rate spread, building permits, stock prices, weekly initial claims (inverted), average weekly manufacturing hours, index of supplier deliveries (vendor performance), and manufacturers' new orders for consumer goods and materials*. The negative contributors – beginning with the largest negative contributor – were real money supply*, manufacturers' new orders for nondefense capital goods*, and index of consumer expectations.
You can view the latest full report here:
http://www.conference-board.org/economic....cfm?cid=1
"Hamilton is really a Colossus to the anti republican party. Without numbers he is an host within himself. They have got themselves into a defile where they might be finished but too much security on the republican part will give time to his talents and indefatigableness to extricate them. We have had only middling performances to oppose to him. In truth when he comes forward there is nobody but yourself who can meet him. His adversaries having begun the attack he has the advantage of answering them and remains unanswered himself. For God's sake take up your pen and give a fundamental reply to Curtius and Camillas" - Thomas Jefferson to James Madison