Dark is the absence of light…
A cold chill of fear cut through me, I felt my heart contract
To my mind I brought the image of light, And I expanded out of it
My fear was just a shadow, And then I voice spoke in my head
And she said dark is not the opposite of light, It’s the absence of light
And I thought to myself, She knows what she’s talking about
And for a moment I know, What it was all about. — Beastie Boys
It’s not a pretty start to the week. The headlines after the three day weekend are full of panic, full of worry and impending doom:
10-year yield hits a new low
Treasury prices rise, pushing 10-year yields to a record low, as U.S. stock futures point to a much lower opening and investors seeking safety are flushed out of the Swiss franc after officials there set a floor.Brutal Aug. market gives way to uncertain Sept.
MarketWatch’s top commentators weigh in on
what this notoriously cruel month might hold.
• Hilary Kramer: What to buy, what to avoid
• Kahn: Dow headed back below 10,000
• Why it’s still too volatile to be safe just yet
• Two stocks, four funds for the long-term
• Markets stumble into the Chop Zone
• The focus should now be on dividends
U.S. stocks drop
Equity-index futures point to declines as investors return from the long Labor Day weekend.
• Gold turns higher | Asia stocks dip
Franc plunges as Swiss set euro-franc floor
Floor is 1.2 francs. Swiss National Bank vows to buy “unlimited quantities” of euros to defend it.
• Soaring Swiss stocks lead Europe higher
• Italy budget backtrack stirs market worries
Why the young jobless will ruin your portfolio
What Social Security won’t tell you (SmartMoney)The futures are down big, the butterflies are in the stomachs and the bears/shorts are looking to short this open. I’m planning to hold it steady this morning near the open, but I will likely do a little bit more buying on major weakness. It seems like a lifetime ago that we were last here, no? Let’s get back into the groove.I borrowed a friend’s smartphone to read on a drive this weekend. When I pulled up the headlines, they were full of things like “Stocks drop big in first trading session since the S&P 500 downgrade”. Do you remember when you were supposed to panic of that? There are times to panic. I don’t think this is one of them. Keep your head.
