“I think volatility is the new norm as investors in all asset classes try to re-price what the world looks like in the absence of quantitative easing. That’s not an easy thing to do.” Art Hogan, managing director at Lazard Capital Markets.
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And there you have the explanation for why the stock market has gotten a serious black eye since Ben Bernanke announced the FED was maybe going to reduce its footprint in the market one of these days. Pretty much how the average person would have described it – Not.
Dan Greenhaus, chief market strategist at BTIG in New York, said the initial reaction to Bernanke’s comments was overdone. But he said a period of choppy trading is to be expected following the strong gains stocks booked earlier this year.
“I wouldn’t be surprised if we drifted lower and trade sideways for the next few months,” said Greenhaus.
In a period of “chopping trading,” I would expect most of us would indeed “trade sideways” for the next few months. Duh!
“The Supreme Court has ruled the federal government may not deny funds from its global anti-AIDS program to organizations that refuse to actively oppose prostitution.”
Chief Justice John Roberts clarifies the majority opinion thus:
“The (requirement) compels as a condition of federal funding the affirmation of a belief that by its nature cannot be confined within the scope of the government program. In doing so, it violates the First Amendment and cannot be sustained.”
Well said, Mr. Chief Justice, well said!
Below, see the lead headlines on FOX Politics:
Join Tom McClintock – California Tea Party Congressman Fighting for More Freedom!
2013 Best Skin Tighteners – An Unbiased Review List of The Top Performing Skin Tighteners In 2013
A Drop Dead Gorgeous Tan -No Orange, No Streaks, No Smell. Get A Gorgeous Tan Now!
Canadian Rockies by Train – Experience the Rockies By Train. Luxury Mountain Travel By Rail
It’s almost impossible to imagine a more political issue than the year’s Best Skin Tighteners unless you go with A Drop Dead Gorgeous Tan – with No Orange, No Streaks and No Smell. A Canadian Train ride is pretty controversial as well.
Ummmm. That’s pretty scary. I wonder if we just have to stand by as that unfolds? I read Wednesday that the US and Russia were thinking about commencing negotiations to reduce their nuclear weapons stockpiles. Wow, what a difference a day makes.
And one more headline from FOX World news:
Italian Beachgoers Ignore Dead Bodies on Shores
Well, if you only have a couple of days left on your vacation, why let a few dead bodies get between you and some “killer waves?” Cowabunga!
And the Mountain Democrat’s own outsized headline Wednesday:
Hangtown Haven Eyes Move West
I had to read that several times before I realized it wasn’t anything to do with “Hangtown Haven’s Eyes” which I never knew it had and still am not sure. Hangtown Haven’s Ears to Remain on Broadway?
Top of the page on the Drudge Report titillates the unsuspecting reader:
Foreign company buys us
There is more to the story. A foreign company bought an American company that compiles elections data. Darn those foreign companies! Grrrr.
And POLITICO warns of “America’s looming helium crisis” which matters if you get an “owie” because MRI machines need liquid helium to function. Medical/Science factoid of the week, in my book.
Citizen Jane Politics had this to say recently: ” ” (sic)
CNBC News, meanwhile, alerts us to the story of Former Enron CEO to Ask for Early Prison Release.
Jeffrey Skilling said he would tell the Justice Department where to find Jimmy Hoffa’s remains and drop a couple of lawsuits in return for a reduced sentence. The issue is currently before the judge from the original case.
And in conclusion.
Ishkabibbly-otendoten-bobobadeeetendoten-wadotendot and dot!
Chris Daley is a staff writer and columnist for the Mountain Democrat. His column appears each Friday.