The Dow Gained 787 points (7.0%) in the trading week ended last Friday, December 2, and 1.9% from its close on November 18 to its close last Friday.  From my perspective, the volatility and upward push by the Dow does not resonate with the economic news continuously coming out of the Eurozone, and the general economic morass that I believe continues to prevail in the U.S.  This, irrespective of a limited number of monthly statistics (consumer confidence and the unemployment rate to name two of those) that seem to be taken by many as things that ought to be viewed positively by the financial markets.

I say that may be fine for ‘trading markets’ as far as it goes, but these reported statistics are meaningless in an ‘investing market’ that looks to long-term prospective results and discounts those to present value.

Something to think about.

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