04/14/01 EASTER WEEKEND - ALL BLUE The Daily Reckoning
Weekend Edition
April 14-15, 2001
Paris, France
By Addison Wiggin
MARKET REVIEW: Easter Weekend - All Blue
Traditionally, just prior to the Easter, markets will
exaggerate existing trends - not so this year. For months, investors have been stalked, mauled and drooled
over by a bear market that has mangled many a portfolio.
But this year, despite poor economic news and continuing
earnings warnings, the pre-Easter trend was reversed. The
Dow clambered up 113 to 10,126 on Thursday, giving the
"blue chip" index a gain of 335 points for the week - up 3
1/2 percent - and a return to 10k plus. The S&P 500 added 55 to its tally - up nearly 5% for the
week. The Naz was up 62 on Thursday, too… adding nicely
to the whopping 241 gain the index posted this week. The
Nasdaq'a 1,961 close was 14% higher than last Friday's
close - helping the big tech close out its best week in
over 10 months. Still the economy sputters… The nation's biggest
retailers reported weak results for March due to "unusually
cold weather and the slumping economy" (AP). The Commerce
Dept. also issued weaker than expected retail numbers for
March. The Labor Dept. reported its highest level of unemployment
in five years…and declining wholesale numbers. We suspect
a deflationary bust in the works…as we noted this week,
the money supply is already expanding at double-digit
rates… So what's going on with the markets? Maybe investors are
reading the Daily Reckoning and taking our advice
wholesale… sell the rallies. Sell. The Russell 2000, the bad boy of smaller company indexes
hopped up 5 to 455 on Thursday. For the week the Russell
rose 20 - nearly 5%. ADD'L PRICES FOR THE WEEK: all but nowhere, this week
Gold: $260
Crude Oil: $28.26
Natural Gas: $5.38
CRB Index: 214
Dollar Index: 115
The Sad, Sad Euro: $.89
British Pound: $1.43
Japanese Yen: $.81
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Case Of The Blues! Dear Daily Reckoning reader,
The DR has come down with a serious case of the BLUES… …the "Blue Service", that is. I'm pleased to report, on
this fine Saturday, the successful launch of the Daily
Reckoning Investment Advisory… or as we like to call it
the Blue Service (after the color of the website). In response to many reader requests, we've developed a
"rubber-meets-the-road" investment advisory to help you
follow-through on the ideas and insights you read every day
in the Daily Reckoning free service. In fact, drawing on over 20 years of friends, associates
and contacts Bill has developed through his work in the
investment industry, we've built what we hope will prove to
be THE FINEST contrarian investment team - ever assembled! Readers of the DR Blue Service will be privy to the unique
- and profitable - advice of the all-star Blue Team: David
Tice, of The Prudent Bear; Dr. Marc Faber, the Gloom, Boom
and Doom Report; Lord William Rees-Mogg of Strategic
Investment; Michael Belkin of Belkin & Associates… and
others, brought to you under the astute guidance of
editorial director Daniel Denning. To help you kick things off, the Blue Team has assembled a
list of 3 KEY STRATEGIES you'll need in the coming months
to avoid getting creamed by the economic slowdown… and
even make money from bonds, "cash-rich" survivors, and a
speculative "options" play with downside targets for the
Dow and S&P 500. But that's just the beginning. With your subscription to
the DR "Blue Service", should you choose to enroll, you'll
also find little-known resource companies, overlooked cash-
rich companies, "Old Economy" gems with high returns, high-
yielding funds, currency plays and index investments that
we're expecting will bring home two, three and fourfold
returns. Also in response to reader requests…you'll be getting
specific recommendations on what positions to buy and sell.
We expect this will prove to be the perfect (and
profitable) companion service to the Daily Reckoning e-
mails you've come to enjoy. Plus, we're going to take even greater advantage of e-mail
and the Internet to deliver the advice to readers in a
timely, actionable manner - so you can keep out of harms
way… or make money quickly from fast moves in the
markets. As I said, in our view it's a big event. I
sincerely hope you'll join in the fun… If you'd like more information on the Blue Service…or if
you haven't enrolled already and you'd like to, click here:
The DR Blue Service
Go blue… and enjoy all your weekends, Addison Wiggin,
The Daily Reckoning
P.S. Once again, if you're interested in upgrading your
free Daily Reckoning subscription and enrolling in the DR
Blue Service please click here:
The DR Blue Service
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