A little rain here today but still warm and warmer tomorrow.
It is Friday tomorrow so you know it's time to get those requests in. Music, books, films, sports, science it's up to you.
Sidetracked
A friends son asked me tonight about a stock market project he has in class. I was more than eager to help! As such, I am limited on time for a meaningful post so just one general observations.
I wrote an article in November which talked about the ingrained fear of missing a V-shaped bottom. The eager rush to buy big drops was so fierce it almost never let up until after the late November massacre in stocks. Since then I think a real change has happened. Instead of a fear of missing out, a fear of the rug being pulled out from underneath has become the main go to emotion.
I saw this last night as futures were weak and plenty of "I told you so's" were pouring out about market tops. This morning it was even worse early on but by the real cash open the rug failed to be pulled.
The fast switch from aggressive to defensive is something I am not used to over the last market cycle. By late day I was getting more than a bit annoyed with the "bulls" taunting "bears" or "longs" over "shorts". I worry about MY positions and the rest is outside my ability to influence.
As is I have 3 open longs:
AREX
WTS
BANR
Obviously all did well today on such a market uptrend. It's a 3 day weekend coming up (markets closed on Monday) and while I want to go all cash and start fresh next week, I have a feeling this run higher is not quite ready to do the pull back thing.
Have a good night.
3 comments:
Hmmm ... "The Legend of Billie Jean", "Murder She Wrote", and that show "O'Hara" featuring Pat Morita of "Karate Kid" fame have been much on my mind of late. And the talk shows ... Sally Jessy Raphael and that ilk. The Apple IIGS. Swatches. Vuarnet t-shirts. I am so lost in my past sometimes ;-p
How have you been, my friend?
I can work one in! I am ok, was a hard Summer (was very ill) but looking for spring. Better question, how are you?
It's been a tough year, with the recent concussion drama being the tip of the iceberg. We should talk sometime ...
I'm glad you made it through the summer and are looking forward to another one coming. February's almost over, you know ... keep smiling :-)
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