Last Friday was the end of the 3rd quarter for 2011. I thought I would take a look and see how the various indices I track performed for the quarter and year to date. The results were worse than I thought. With the exception of 2 sectors which were mixed, every sector of the market I track was down for the quarter. The best performing sectors were the Gold/Silver and Utilities; both of which had mixed index performance for the quarter. I’ve posted the results below for everyone to review. It’s worth noting that the Dow Jones Industrial Average lost approximately 1,500 points for 12.1% in the 3rd quarter, and the Dow Jones Transportation Average lost approximately 1,234 points for 22.76% in the quarter as well. For those who follow the Dow Theory, this is a clear signal of a bear market; and in my opinion an indication that we will be back in a recession within the next ……………….
Weekly Newsletter
Sterling Investment Services publishes the Sterling Weekly newsletter providing our opinion and commentary on market related items of importance’s, the upcoming week’s economic calendar, and our opinion of the major market indices.
Sterling Weekly for the Week of September 26th, 2011
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This week we have a fairly heavy economic calendar with the important news being the release of Revised 2nd Quarter Gross Domestic Product (GDP). The current expectations are for a very anemic 1.2%, revised from a 1% estimated growth rate. Both very weak numbers. With nearly every forward looking economic indicator pointing to weakening economy and a probable US recession, I could not help but think of last week’s inflation numbers. Last month’s Consumer Price Index came in at an adjusted 0.4% for the month of August. While that may not sound bad, the year over year number is just under a 4% annual inflation rate, and with the exception 2007, this will be the highest inflation rate since………
Sterling Weekly for the Week of September 12th, 2011
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Since the previous edition of the Sterling Weekly the Dow Jones Industrial Average declined 248.13 points or approximately 2.2% to 10,992.13 The overall market sold off sharply late last week and looks to be starting this week off with another large move to the downside. The selling right now is being attributed to the European sovereign debt crisis. This is a very legitimate cause of market concern, but in my opinion it is not the sole reason for our market downturn. The other major issue effecting the market that is not currently getting as much attention as it deserves is the slowing economic growth rate……………………
Sterling Weekly for the Week of September 6th, 2011
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A Look at the Dow Jones Industrial Average Since the previous edition of the Sterling Weekly the Dow Jones Industrial Average declined 397.19 points or approximately 3.4% to 11,240.26 With all the recent market volatility I thought now would be…