Tuesday, April 14, 2009
Obama and Stock Market Commentary [stop now please]
Today Obama came out with another downbeat message on the economy. “By no means are we out of the woods,” he said. Yet in the latest 30% run up, he had more of a “glass half full” mentality. And earlier in his presidency, many thought he was far too negative about the economy, adding negative momentum to our already beaten down markets. Does anyone else feel like he isn’t quite sure which side to take? His advisers have yet to find the right balance between being optimistic but not too optimistic to push to markets up 30% in weeks [where we are now] and being pessimistic but not too pessimistic to push the markets down 30% [where we were a few months back]. His comments up to this point have only added momentum (volatility) to market movements in both directions. So until they figure this balance out, how about taking a neutral position and letting the markets work themselves out? The president has many responsibilities, but lets’ leave stock market commentary up to stock market participants.