St. Stanislaus School benefit, 9 to 4 in Kolbe Hall, Adams. Bake sale, snack bar, games, Chinese auctions, money raffle, crafts, and pierogi.
Blackinton Union Church, 1373 Massachusetts Ave., North Adams; 10 to 2. Crafts table, bake sale, Chinese auction, the Christmas table, and kid's grab bag. Lunch $4, $2 kids.
First Congregational Church, North Adams, 9-2.
Nov. 28 Becket Federated Church, Route 8, holiday bazaar from 9-3. Lunch, crafts, baked goods, holiday and other items. Information: Mary Peltier, Parish House, 413-623-5217.
Dec. 5
Holiday Fair at First Congregational Church, 25 Park Place, Lee, from 10 to 3; handcrafted items, raffles, children's shop, bake sale, cut Christmas trees and lunch from 11 to 1. Includes angel-themed goods from SERRV. Information, 413-243-1033 or www.ucc-lee.org.
Dec. 12-13
North Adams Country Club, crafts 9-4; food from That's a Wrap from 11-2. Information: Sheryl Morehouse at 413-822-3329.
Planning a bazaar this season? Submit information to info@iberkshires.com to have it listed here.
We're trying out blogs to offer shorter, easy-to-find news. Let us know what you think.
Send press releases and announcements to info@iberkshires.com. Need to contact someone at iBerkshires? Here's how.
Mammography Dispute The government's issued controversial new guidelines stating that women shouldn't get annual mammograms until age 50, rather than age 40.
iBerkshires will be meeting with local medical experts Monday. Have a question you'd like answered on this issue? Send it info@iberkshires.com with "mammogram" in the subject line.
By Bill Schmick iBerkshires Columnist 03:29PM / Sunday, July 13, 2008
Bill Schmick
All week long the markets played cat and mouse with support. Finally on Friday, it looked as though the bears had won as they drove the S&P 500, Dow and NASDAQ below their various support levels to new yearly lows.
It was not a pretty picture. And yet, the bulls rallied back to finish the day in the minus column but well above the lows.
Since everyone needs a fall guy, we can pin this week's market action on the ongoing problems with Fannie Mae and Freddie Mac, the two government-sponsored mortgage giants. Both companies need to raise cash as the mortgages they hold continue to decline.
Some even talk of nationalizing the two. And lest we forget, oil hit a new high after falling over $10 a barrel in two days. As the rockets red glare lit up the Iranian desert sky, the U.S., Israel and Iran continued posturing over who has the biggest missiles that can fly the farthest. This turmoil in the Middle East simply heightened the level of pessimism which could almost be seen dripping from the walls.
As I wrote last week, a market bottom usually coincides with extreme pessimism, panic and high volume. An unrelenting deluge of panic-inspired calls this week indicates we must be pretty close to that bottom. At the same time, the volume on the exchanges has increased as has the volatility index.
For the most part, the big players — hedge funds, brokers and some institutions — have had the market to themselves this week because even the day traders have retreated to the sidelines. Dese guys don't mess around. They play with billions for fractions of a point that can earn them millions in minutes. They will run over anyone in their way. If ever there was a time for the little guy to find a money manager this would be it in my opinion.
Once upon a time (when I had hair), one of my clients, Sir John Templeton, advised me to buy securities when the blood was running in the streets. I'm sure he got that advice from someone else during his career (when he had hair). Sir John, to my sorrow, passed away just a few days ago but his words still echo in my ears. So this week I bought a little at what I believe to be a support level (between 1235-1245) on the S&P. If it goes lower, I will add a bit more because I will never catch the exact bottom.
But why buy now, you may ask, especially with all this talk about bear markets? Even in bear markets stocks do not go straight down and there are times when the markets can rally quite strongly despite the overall. Granted, it is not a game for amateurs. You need to live with your investments full time and very few can do that outside of the profession.
So what can we look forward to from here? I expect the markets will bounce but how high and how soon will depend upon the second-quarter earnings season which has just started.
If companies can produce upside surprises in earnings that will give the market some hope and possibly a boost. Those companies who export or who are in the commodities sectors have the best chance to do that. The financial and consumer sectors should, if anything, offer downside surprises. As for the trials and tribulations among our big mortgage companies, they are too big to fail. The government will step in as buyer of last resort and we the taxpayers will foot the bill.
A special note: I will be on vacation during the later part of next week so this column will not be available until the following week. I will miss all of you.
Bill Schmick is a licensed investment adviser representative and portfolio strategist with Berkshire-based Dion Money Management, managing over $800 million for middle-class Americans from coast to coast. Direct your inquiries to Bill at 1-877-850-7942, Ext. 146 (toll free) or wschmick@dionmm.com. You can also visit www.afewdollarsmore.com for more of Bill’s insight.
