The big banks failed to attract buying, while technology had its moments, but overall failed to inspire traders.
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New York, NY (PRWEB) January 05, 2012
As 2011 came to a close, George Leong, contributor to popular financial newsletter Profit Confidential, analyzed the year and why the forecasts have slightly missed their mark.
“I expected tech and small-caps to drive the market in 2011,” Leong writes in Profit Confidential, “It looked that way earlier in the year, but then the European debt crisis materialized, China stalled, and stocks began to sink quickly.”
Leong notes that, domestically, the housing market failed to improve at all in 2011. President Barack Obama’s initiatives to reduce unemployment and drive consumer spending have fallen short of any sustained growth. The jobs market remains a major issue.
“The lack of any leadership was the downfall for many in 2011,” says Leong, “The big banks failed to attract buying, while technology had its moments, but overall failed to inspire traders.”
Leong believes that Europe will continue to be a major hurdle in 2012. “China is also stalling,” says Leong. According to the analyst, China’s GDP estimates for 2012 range from as low as 6.5% to as high as 9.5%. “I continue to favor China over the next several years, as long as Europe regenerates.”
Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market...before it plunged.
Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.
To see the full article and to learn more about Profit Confidential, visit http://www.profitconfidential.com.
Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit http://www.profitconfidential.com.
Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi’s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit http://www.profitconfidential.com/critical-warning-number-six.