Starting today, our principle financial market reporter is, as he puts it, "on hiatus from the Street" for the next three weeks. Traveling with his wife, he will not be filing during this time. He emphasizes the temporary nature of his withdrawal and denies that it has anything to do with the scary condition of the market and the host of contributing factors -- including the Isis crisis (predicted by T. S. Eliot in "Prufrock"), the ebola scare, the dilemma of falling gasoline prices versus environmental concerns as fracking goes on, nasty race relations in the St Louis exurbs, the unpopularity and arrogance of the nation's chief executive, the slow economic recovery, the drag on morale, the specter of an aggressive Putin, etc -- that lead many to believe that a stock market correction is long past overdue.
In fact, says our intrepid correspondent (and I quote from his e-mail) there is "bullish sentiment regarding stocks and it is not confined to contrarians. New money is coming into the market, and as stocks are the only game in town, there is reason to suppose that new highs will be made in all major indices through spring 2015. If you have capital and can afford to be patient, you can still pick up one or two sound stocks at affordable prices: Deere, Caterpillar. And for safe money you can't beat JNJ. But you can depend on continued volatility. The only categorically correct prediction that I can make about the stock market is that it will fluctuate. Major imponderables loom on the investment horizon. Was there ever a time when that was not a suitable headline?"
Therefore we reprint this article at regular intervals. -- DL