Thursday, January 11, 2007

Moon Blast

  • Folks getting excited about a breakout in the markets. After a trading range from November-January, will be bust out and over for a new leg up?  Or could this be something that sucks in folks before we head back down?  I continue to be in low beta stuff with lots of cash, which is dragging down my total return compared to the market.  But still short-term trading with some cash, which is bringing the return back up close to the market.  Although with much more effort on my part.  Watching those little names like a hawk should the market reverse down.
  • Market internals great today.  Breadth great.  If the market takes off from here, I'll have to re-evaluate my current portfolio allocation.  It used to be really difficult for me to admit I was wrong, and clear the slate and begin anew.  But this is probably the most important thing to learn.  If one is wrong, why stick with it?   It's okay to be wrong.
  • Before folks get too excited about the hiking of the minimum wage, it may make some sense to see how the recent hike in California is affecting businesses here.  From the Contra Costa TimesMany East Bay restaurants are increasing menu prices as California's new minimum wage, which went into effect Jan. 1, drives up costs.
  • Adam on the put-call ratio.
  • More on the minimum wage from Liberal Larry, "Even With Minimum Wage Increase, Many Americans Still Making More Than Me."
  • I'm still waiting for the call to be interviewed for the head coaching job of the Miami Dolphins.  Wayne?  I'd decline it, though.  The team might get angry when they learn I have no Dolphins on my Fantasy Football squad.  Not exactly a vote of confidence from a head coach.
  • Michelle Malkin is in Baghdad!  Kind of interesting to read her take on events over there compared to what we normally hear from the Mainstream Media.

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