Vacation is really a misnomer. This is more like a re-location but I'll be in Orlando starting this evening. Friday, I am speaking at the AAII conference and doing the requisite Barron's related schmoozing.
Otherwise, the family is coming with me to the House of Mouse for some time away. I'm still doing the newsletter but I've done it poolside at midnight many times before. Anything for the kindeleh.
Marketwise, liquidity is the rule. G-20 is promising it so the stock market has wings. Broken wings, but wings nonetheless. I just worry about what happens when the economy hints that it can handle a rate increase.
As they say in the bond biz, all of this product (stocks) has not been put away (sold to the final retail buyer). That leaves it is very big, fast acting hands and facing a crowded exit door.
3 comments:
SP500 failed to cross 1100 yet again, though it came closer this time. Ominous sign, I say..
So much for 1100. As much as it pains me to say it, the S&P 500 has a breakout. A nice little pause at resistance and then "the move." If only stinky volume had any influence.
yes, I realize that there are two sides to a coin - what looks like a confirmed resistance can become a support in a hurry. Now that 1100 has been breached, it might be "up, up and away" from here. Looks like the bulls aren't tired yet, but the same thing cannot be said about the bears.
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