Wednesday, June 12, 2013
Monday, June 10, 2013
Status Quo for Me
On a day where a lot of eyes were watching $AAPL WWDC, The market had a calm day for a change. Apple didn't announce much and sold off a little.
I'm still sitting on my hands. Not chasing stocks up here and believe that a correction is coming. I suppose the argument could be made that last weeks retest (again) of the 50dma on the SP500 was the correction. Seems like the market doesn't want to sell off more than that. Meanwhile, interest rates are sneaking up but still pretty low.
Days like today almost seem calming and relaxing, setting up whatever is next.
Thursday, June 06, 2013
Another 50dma Bounce
Darn. Another market bounce off the 50dma. Obvious, right? Should have played it. But sometimes when we all see it, that's when it stops working. And this was the third bounce in the uptrend.
Doesn't matter. Jobs report is what we will all be watching tomorrow. Will it be seen as good news or bad news?
Some folks seem to be hoping for a middle of the road number. But everything has been so mediocre in this recovery. Wouldn't it REALLY be better if we were creating more jobs?
Wednesday, June 05, 2013
June Swoon
Sell in June... Market selling continues. Many folks were predicting another retest or slight new highs on the SP500 before the Summer selling began. Still could happen.
But think of all the 2013 profits there are to protect out there. The market has had a great start to the year - heck, for a full year it would be a great return.
Anyway, I'm still in cash and being patient. Not that I won't try to play a bounce should things get extreme. But so far I've been sitting on my hands.
***
See the start Dodgers rookie Yasiel Puig is off to in his first two games?
Sunday, June 02, 2013
Bodega Bay Randomosity!
* Another stock reversal on Friday. I think investors have a lot of profits to protect.
* I'm in cash still and being patient. I believe there will be a summer correction and that it probably got underway a week ago Wednesday on the key reversal day.
* Investors chasing yields in utilities, reits, and dividend payers have taken the hit with rising rates. Could be a big buying opportunity in some of these down the road.
* Spent the weekend in Bodega Bay. Nice! Cool! Breezy! I much prefer the SoCal beaches, but these are very pretty.
* Game 7 between Pacers and Heat...
* Dodgers - yuck.
Wednesday, May 29, 2013
Sell in June?
Looks like investors finally found a reason to worry! Stocks selling due to better economic numbers and the fear that the Fed will end QE soon.
I'm still in cash. My thought remains that the market is due for a correction and since this has been a historic move up, the correction could be a bit ugly. Much like we saw in the late 90s summers.
It felt like the market cracked last week on the reversal day, huh? And now interest rates moving up and breaking out.
Dividend payers really getting smoked.
Tuesday, May 21, 2013
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