- Yes, it is starting to sound like a broken record: Another day, another new market high. Even with the news that Factory output dropped in April and manufacturing activity in New York state contracted this month, a sign that slowing global demand is weighing on the economy. Hey, the good news is that this means the Fed can keep QE-infinity going!
- Still in cash. LOL. HAHAHA. “What a maroon!”
- Remember when $CSCO used to move the market? Think they still can on their profit beat? Cisco shares rose about 8 percent after Chief Executive John Chambers said the company was seeing some good signs in the United States and that other parts of the world are "encouraging." Seems like only yesterday that Chambers moved markets.
- That’s Chambers, not Cramer.
- Patience. Patience. Patience.
- Watching bottom of the 8th with Dodgers up over Nationals 2-1. Could use an insurance run or two, Blue Team. Greinke is out and it’s up to the Dodgers bullpen. Gird. Your. Loins.
- It is options expiration week, so one thought is NO WAY THEY CAN PUSH THIS THING DOWN.
- By the way, $AAPL was down today. 3.4%. And the market was up. Yeah. Really.
- I had dinner at the Olive Garden tonight. Is that place always packed or what?
- Sometimes I think about moving out of CA, then I read: At least three killed, up to 100 injured by Texas Tornado.
- Sacramento Kings staying in Sacramento. Of course, now David Stern is planning on meeting with the Maloofs to try and convince them to sell the team to the Sacramento group of investors. The Maloofs don’t have to sell – that’d throw a wrench into Sacramento’s new downtown arena plans.
Wednesday, May 15, 2013
Monday, May 13, 2013
- We all know a stock market correction is coming. We are sure of it. But… From where?
- I’m still in cash. Being patient. My thought is that after a big run like this, the eventual pullback is a little more severe than a 3% dip to the 50dma. Just thinking out loud.
- But lets not let that dampen economic enthusiasm. Bernard Baumohl, the chief economist of The Economic Outlook Group, believes the U.S. “may be on the precipice of faster growth.” And consumers are the main reason… Party on, Garth!
- On the other hand, Lack of growth in the Dow reaches dire stage. …the companies that comprise the index are solid companies that are likely to withstand major economic catastrophe, but at a certain point, valuation must come into play. In this specific instance, it is a concern.
- So, I do like to wax political from time to time, and there are lots of things in the news these days. IRS targeting conservative organizations? Really? Add some Benghazi to the mix. I don’t think this stuff is going away.
- By the way. Retail sales up in April. (Yes, a lot of that WAS me). Retail sales unexpectedly rose in April, reflecting broad-based gains that may ease concerns consumers are holding back. This is good news. I think that consumer activity lags the economic recovery a bit. It is nice to see folks out spending and feeling better about their situations.
- McDonald’s is eliminating the Angus Burger, but adding THREE NEW QUARTER POUNDERS! The three new flavors, which were tested for nine months in Sacramento, Calif., and Toledo, Ohio, are Deluxe, Habanero Ranch, and Bacon and Cheese. The new varieties will carry a different bun containing more whole grains, while the original Quarter Pounder will keep its traditional bun. How’d I miss this happening under my own nose here in Sac?
- France mulls smartphone tax to fund culture. Well, that doesn’t seem so smart to me. The notorious French taxman could soon have something else to train his sights on after a government report on Monday suggested taxing smartphone and tablet producers like Apple and Amazon, in order to bolster funding for cultural products.
- Dodgers losing 6-2 at home to the Washington Nationals as I type. Yikes. Maybe Kim Kardashian should take the mound…
Sunday, May 12, 2013
Wednesday, May 08, 2013
The market melt up continues, now up 5 days in a row. Are there any bears still there? I’m still in cash and not chasing this, and expecting a correction. That’s been elusive so far. It is tempting to try and day trade to “catch up,” but that would probably be ringing the bell at the top of the market.
Tuesday, May 07, 2013
All you need to know: Dow ends above 15,000 as “investors rushed to join the party.”
At some point, we know how this kind of thing ends. But… from what point?