Toro's Running of the Bulls Market Blog
In November, I closed on a piece of land. The property is beautiful and quiet, albeit a bit small. It is in a small subdivision with 10 other properties. Four properties have been built. I have no deadline to build. There is a swimming pool in the common area and the small subdivision road is made of cobblestone. It is two blocks from a very trendy area where everyone wants to be.
From The Wall Street Journal.
The California housing market is showing more signs of stabilization—at least for now—as sales of bank-owned and bargain-basement homes in inland areas partially give way to sales of costlier homes toward the coast, according to a new report.
As Bernanke & Co prime the pump for the next financial disaster, I cannot think of a more damning indictment of the way monetary policy has been run in this country over the past few decades than this graph. It is the real Fed Funds rate, or the Fed Funds target less CPI.
March is often an inflection point for the market. In eight of the past ten years, the market has turned in March, either up or down. In only two years this decade - 2006 and 2008 - was there no March reversal of some kind.
The Asset-Driven Economy
We live in an asset-driven economy.
Volume today on the NYSE Composite clocked in at 3.79 billion, lowest of the year. This follows the lightest volume rally since the rebound began, in the month on trend to register the lightest volume month in nearly two years.