The recent turmoil in the financial markets has people turning to psychics for advice. The New York Times has an article today detailing how psychics’ clients used to be all about “love, love, love” and now it’s all about “money, money, money,” as one person interviewed for the article put it. I don’t think I’d trust a psychic to give me financial advice and I’m guessing you wouldn’t either, so if you are looking for some words of wisdom about the market, click here.
We saw a huge relief rally on Thursday and Friday of last week, followed by a proportional counter-move yesterday. That the bottom has been seen in many stocks is a very high probability. So what do I like? I like medical stocks, especially those involved in biotech and genetic technology. There are some impressive charts today, and the long-term fundamentals are bright thanks to growing demand from aging baby-boomers. Who’s going to pay for all this care is yet to be determined, though recent events provide a clue. Also, I have some “radical” ideas about the potential...
