Seems like everyone is in a Charles Dickens mood this weekend, as many posts on blogs and financial websites are about 2 economies emerging: Marketwatch mentions about how the manufacturing sector is recovering, but the labor market is not.
Mike Shedlock's terrific Global Economics blog makes a great notation about how 2 types of companies have fared well during the credit bubble: Those who stayed away from debt to hoard cash, and those who just relied on bailouts. Companies that were in the middle that did not either have full cash or relied on taxpayer funds have done the worst.
But there's nothing more symbolic of a market approaching a top than when you start reading stories of people abandoning buy and hold strategies for a heavy trading strategy focusing on risky stocks with so-so fundamentals.
The 50-year-old from Naples, Fla., had limited investment knowledge but attended several seminars before starting to trade in May. So far, York said, she's up an average of 40% a month and is trading full time."It's the best job I've ever had, not just for the enjoyment but from the compensation standpoint," said York, who previously sold telecom equipment. "I've replaced a significant six-figure income."
