Despite deals, markets close lower for the week.

Merger activity up ticked this week however the markets continue to focus on the short term data especially the jobs numbers. People seem to be forgetting that we are coming out of the worst recession since the great depression and the economy and jobs market still have a long way to go. Being obsessed over the weekly economic reports that come out which is then exacerbated by the media, is a recipe for a very emotional and volatile market. It’s utterly important to recognize that the recovery and healing is going to take time and let’s hope that governments, corporations and individuals alike will learn from the extreme leveraging and risk behavior that put the world economies at the brink.

We have come a long way in a mere 18 months with a lot more work to do. In my humble opinion the real work will begin once the mid-term elections are complete. There are plenty opportunities now and more to come in the future, but one has to be very patient and diligent when considering to act.

Good luck to all.