So, the stock markets were up today on pretty heavy volume. That's as good news today as it closing down on heavy volume was bad news yesterday.
There are a ton of competing indicators, so it's very tough to know what to expect. One thing is certain, though: the financial health of many of the economically developed countries is in jeopardy from unhealthy balance sheets (translation: the big, strong countries are in trouble because they're spending much more than they're bringing in, and the solutions are to cut services to people who need them and raise taxes on the people who are most productive in the first place).
This is not inherently a positive long-term situation for the stock markets, and it also jeopardizes the bond markets.
Investors and their advisors should probably be flexible and thinking out of the box. More on that later.
Happy Friday, and a great weekend to you!
An investing and financial strategies blog offered by Gary Partoyan, veteran financial advisor and owner of Potomac Wealth Strategies, LLC.
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