Good morning and I hope your morning hasn’t been filled with as many zombie-like mistakes as mine has. Being a Steelers fan is never easy on Mondays and Tuesdays once football season rolls around due to the amount of prime-time games we play (yes, I do watch pre-season). Being a Steelers fan is never easy as of late, regardless… but I digress.
Here are some goodies for you today:
- Zillow is expecting y-o-y gains in housing for July (Calculated Risk)
- Foreigners sold almost $1T(with a T…annualized) in US securities in June (Dr. Ed’s Blog)
- Bernanke holds the throne. Well, kind of (FT Alphaville)
- I guess we really aren’t cutting defense spending (ValueWalk)
And finally, I want to leave you with this great post by Mr. Brown over at The Reformed Broker (if you aren’t reading this blog you are doing yourself a disservice). There are a lot of worries about the US market at the moment and this post goes over what the different stages of a drop in the market are and how they are classified. The post also covers a bit of historical information about drops in the market which are very helpful. I personally like how he describes what a 50% drop feels like.
- A field guide to stock market corrections (The Reformed Broker)
Good day to you all.