Sell Off on Light Volume

Just a quick note: despite all the red on your screens, the selling
seems to be on rather modest volume. That suggests more of a buyers
strike than a heavy distribution day. Both the advance/decline line and the
up/down volume are modestly lower — not particularly nasty — also.

Remember that most of the European Bourses are closed for Easter Monday (I believe some are closed tomorrow also).

On a somewhat related note, on Cody Willard’s blog,
he discusses the futility of trying to game the Fed on a day to day
basis. That’s an excellent point — not only for the Fed, but for most
economic data. The broader economy is marvelously complex, and its
oscillations and cycles unfold over periods of quarters and years –
not day-to-day.

Unfortunately, us humans have a hard time operating on longer time
scales. Days and weeks are easy; years and decades are almost
impossible . . .

Category: Markets, Psychology, Technical Analysis, Trading

One Last Comment on M3

Category: Economy, Federal Reserve, Fixed Income/Interest Rates, Psychology

Unemployment: Then versus Now

Category: Data Analysis, Employment

Linkfest April Ides

Category: Weblogs

The Basic Tenets of My Investment Consciousness

Category: Apprenticed Investor, Investing, Psychology, Trading

Mortgages, Foreclosures & the Fed

Category: Federal Reserve, Fixed Income/Interest Rates, Inflation, Real Estate

Do We Have Inflation?

Category: Data Analysis, Federal Reserve, Inflation

Are future retirees overly optimistic?

Yes.

That’s the conclusion of a study by the  Employee Benefit Research Institute. EBRI determined that more than half of workers saving for retirement have less than $50,000 put away; Other employees are counting on employer-provided benefits in retirement that are increasingly unavailable.

Here’s the WSJ’s overview:

"Despite recent moves by large companies to freeze pensions and
chip away at retiree-health benefits, Americans remain confident — if
dangerously naïve — about their retirement prospects, according to new
research.

Many workers are counting on traditional pension plans to pay
their bills in retirement, even though such plans are fast disappearing. Only
40% of working couples currently are covered by pension plans, but nearly
two-thirds of surveyed workers — 61% — expect to get income from such a plan
in retirement, according to the Retirement Confidence Survey, scheduled for
release today by the Employee Benefit Research Institute, a Washington
nonprofit, and others.

The responses in the survey, conducted annually for the past 16
years, reflect few worries about the spreading curtailment of pension plans.
Twenty-four percent of the survey’s participants said that they are very
confident that they will have enough money to live comfortably in retirement –
virtually the same number as last year — and 44% of those surveyed said they
are somewhat confident about their financial prospects in later life, an
increase of four percentage points from last year."

See table below for more details . . .

Source:
Workers’ Views On Retirement May Be Too Rosy
KELLY GREENE
WSJ, April 4, 2006; Page D2
http://online.wsj.com/article/SB114411194874516024.html

Read More

Category: Economy

Will the US Economy Decelerate Rapidly as Boomers Retire?

Category: Data Analysis, Economy, Federal Reserve

10 Year Yield: 5.043%

Category: Fixed Income/Interest Rates, Inflation