WHAT WE THINK ABOUT WHAT YOU THINK ABOUT.
Well, the market closed up today. That’s six out of seven sessions. And it’s nearly 1000 points above the bottom, right? Housing starts were up, as were construction permit applications. Wholesale prices were up, but just a little. Food prices down, fuel prices up. Consumer spending and retail sales, both steady.
It’s like we’re in one of those Tarzan movies. You’re running through the jungle and fall into a booby trap—a pit covered with some branches. At first, you panic, because you’re shocked at the ground giving way. And then you feel yourself fall, but you don’t know how far. Or what’s at the bottom. Then, you hit with a thud (a little bounce, which is better than a splat). You lie there for a while. Roll over, look up at the light shining into the hole. Check to make sure nothing’s broken. Pull yourself up. And then begins the climb.
I guess we’ll be climbing for a while. And we have scrapes, scratches, bruises, sprains, strains, stoves, and maybe even fractures. But, for the first time in quite some time, we appear to be still alive. So, there’s that!