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Reading the Tea Leaves

March 18, 2009 – 11:26 am
 

Housing starts took everyone by surprise with an increase of starts of 22%. It was a pleasant surprise for a change. Most of those starts (82%) were in apartment buildings.  

Inflation at the wholesale level was very low while at the retail level it was up. There have been a number of pundits worried about deflation and then a separate group worried about inflation. I think we need to worry about getting back on our feet first. Reinflating the banks and increasing consumer confidence is far more important at this stage. 

It is time to slowly re-enter the market. Value of stocks are compelling; just be careful. Earnings should be your focus. Buy companies with transparent earnings going forward and with very little or no debt.  

Good Trading
Steve Peasley 

 

 

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