Moneytalk Summary, Commentary and Excerpts, May 10-11, 2008
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Bob Brinker did not indicate any changes in his bullish stance on the stock market this weekend. He expects new record S&P 500 Index highs "into next year," and his S&P price target is the "1600 range in 2009."
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Brinker's latest "low-1300's." buy signal was made on February 10, 2008. All during the prior six months his buy signal was 150 points higher in the "mid-1400's" range. He did away with the mid-1400's buy signal in January after the market dropped precipitously, so Brinker had no buy signal between January 20, 2008 to February 10, 2008, and was recommending dollar-cost-average only for new money going into the stock market.
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Of course all these so-called "gift-horses" only benefit investors with new money because Brinker's Model Portfolios have been fully invested during this entire slightly-less-than 20% decline.
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Thanks to Kirk Lindstrom for this information. S&P 500 Index:
- Last Market High 10/11/07 at 1,576.09
- Last Market low 03/17/08 at 1,256.9
- Max Decline 20.2%
This means the correction from intraday high to intraday low is 20.2%.............
The decline from the high to the low on a closing basis is 18.6%
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Neither of Bob Brinker’s Moneytalk opening monologues included any mention of the stock market. Saturday, he devoted the time to the trade deficit (which is slightly down, but imports are way higher than exports), oil/energy problems, politics, etc.
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Brinker comments paraphrased:
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- We import 12 million barrels of oil per day which equals 4.4 billion barrels per year -- this compromises the security of the United States, and it helps account for our trade deficit being so enormous.
- McCain and Hillary’s idea to suspend the Federal gas tax for the summer is the “dumbest” idea he has ever heard. (Honeybee agrees.)
- Brinker is pro-nuclear, pro-Manhattan-Project, anti-coal-burning, and blames the radical-environmentalist for the United States being in the energy Neanderthal-age compared to countries like France, China or India who are doing well by building nuclear power plants “all over the place.” (Honeybee agrees.)
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Bob Brinker’s Sunday Moneytalk opening monologue began with Brinker profusely thanking Moneytalk listeners, and giving a bit of his personal history as a radio entertainer, and how it “gets in your blood.” (Honeybee EC: I agree that Brinker is an outstanding radio entertainer.)
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Brinker then segued from announcing today’s guest-speaker (Gwyneth Craven) to past guest-speakers, Bill Wattenburg and Charlie Maxwell, who agree with him on possible solutions to U.S. energy/oil problems. He finished the monologue repeating his views on possible tax increases in 2009, depending on who takes over the Oval office in January.
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Please see my April 5, 2008 Moneytalk Summary for an explanation of Brinker's tax projections for the democrat candidates.
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http://honeysbobbrinkerbeehivebuzz2.blogspot.com/2008/04/summary-bob-brinkers-moneytalk.html
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This Moneytalk Summary, plus commentary and Brinker excerpts will be continued tomorrow....
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Happy Mother's Day to all mothers.....Honeybee
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