Friday, June 28, 2013
Thursday, June 27, 2013
The Fed's Dudley takes the reigns for today's jawboning efforts. Once again, QE QE QE QE.
As I mentioned in yesterday's audioboo, I think we are seeing end of month/quarter rampage. Looks technically for the SP500 that the 50dma is coming up and could act as resistance. If the market is going to have a larger summer correction, I would expect a bounce down from there.
Of course, Fed jawboning efforts about QE FOREVER seem to be center stage this week. Next week is a holiday week, and I imagine a lot of people are taking the whole week off. Market volume should be light. What's that they say about shorting a dull tape, by the way?
If I had tried to play this bounce and was long, I'd be booking profits before tomorrow, just in case other folks want out before vacation time. Just thinking out loud!
Wednesday, June 26, 2013
Tuesday, June 25, 2013
Nice day in the market but I think it was just a bounce. That being said, we are nearing the end of month and the end of the quarter, so "they" could try to rally them.
I remain in cash and being patient.
Earning season starts in July!
Sunday, June 23, 2013
$GME - Remember when GameStop was going to go out of business because everyone was downloading games? Well the stock is up 66% over the past year. LOL.
I don't own the stock. I have no plans to. But it is funny to notice that everyone's predictions have not come to pass – yet.
Thursday, June 20, 2013
Still in cash. The market selling, they say, because of Fed plans to "taper" and poor Chinese PMI. Although, did the Fed really say anything new or unexpected? Did the news of slowing growth in china surprise anyone?
There are a lot of profits in the market and the battle is always between fear and greed. So maybe this is fear taking over and people want to book their games ahead of summer.
A lot of people have been worried about inflation yet have we seen inflation? Well, maybe we have. Maybe the inflation has been in stock prices and real estate. After all, It seems as if most of the quantitative easing money has gone to banks and the rich and we really haven't seen the money get pushed into wages. And wage inflation is one of the things that would push up prices of everything. But instead, what we've seen is stock prices go up and real estate values go up so maybe that's where the inflation is.
Of course, with unemployment so high, there doesn't seem to be a reason to raise wages to fight over workers. It also seems as if we have enough supply of workers to meet current demand.
Anyways, I'm just thinking out loud.
So, I remain in cash. I still expect a summer correction. Nothing really has changed!
Wednesday, June 12, 2013
Monday, June 10, 2013
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
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
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
* 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.