Recently, money manager Martin Pring (pring.com) released areport called Time to Be Optimistic. His four key reasons are:
1. Low consumer confidence = Profits ahead
2. Bull marketsfollow bear markets
3. Lower oil prices
4. Record cash on thesidelines

Pring observed that oil prices, as they soared past$140/barrel, were rising at a rate matched only twice in thepreceding 120 years. Following both those dramatic price increases, oil prices fell sharply. Pring expects oil to beunder $100 before year's end. As to the Conference Board's consumer confidence indicator, it's been around for four decades and been as low as recently only six times.

"Each time, despite all the bad news, a newbull market for stocks began and significant stock marketgains followed. We expect this seventh episode to end profitably as well. "He goes on, "Cash levels in money funds as a percent of thetotal value of U.S. stocks equals a record high 27%! This level is higher than the start of any bull market of the past30 years. A little improvement in the news ... [and] a virtuous cycle can begin once again."

*************Bill Staton, MBA, CFA, America's Money Coach® Chairman,The Staton Institute Inc. & Staton
Financial Advisors LLCbill@billstaton.com mary@statoninstitute.com

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