Jims alma mater harvard set to face cincinnati. So far, it looks as though stocks will open to the upside, as markets appear to be taking in stride crimeas vote in favor of leaving ukraine and joining russia, this comes after a week in which the dow had its first fiveday monday through friday loss since may 2012. Jim, good to see you. Good to see you. Referendum dominating the news flow over the weekend. U. S. Says under no circumstances is it going to recognize that. What does it mean for the markets today . I think that whats happening is there are oligarchs cashing out. We see a lot of sales of treasury last week. I have to believe that some of the russians are to be thinking, okay, if they do capital controls, ive got to get out of the u. S. , that was a lot of the selling. This was one of those big, bad event owes cs occurs, nothing h. I think they hope it go as way. I think people hope putins done or maybe hell say, look, i think that maybe its reasonable for me to have a corrido
making this the seventh month of the year where the s & p has finished higher and the eighth month of gains for the dow. holy cow. if anybody is wondering, this market is exactly what a bull market actually looks like. s&p 500 rallied 2.4% in september capping off a glorious third quarter. where the index gained close to 6%. not to mention the fact it s up about 15% for the year. 17% when you factor in dividend payments. i know there are a lot of negatives out there. a lot of total legitimate worries. yet these fears have been trumped by the continued optimism that comes from believing the world central banks will turn the tide of slowing global growth. you never want to fight the fed. i learned that in 1980 when i first started taking down some nice-sized positions for my, well, let s say to be able to pay for school. but you really don t want to fight the fed. you don t want to fight the fed when it s teamed up with the the european central bank and hopefully with the chine