I cannot quantify it but there are as many reasons - technically - to buy stocks now as there are to sell them. From good reactions to economic news (GDP revised down) and nagging problems around the world with debt to crappy volume and lack of momentum. Cycle A says we are at a low. Cycle B says we are at a high. COT reports are scary bearish. Sentiment perhaps is neutral. Flight to safety in T-bills, T-bonds and big cap stocks is over.
Pick your poison because relying on any one of them will kill you. If I were not in the advice game I'd have closed my PC - save for waiting to buy my gold back - last week. I could use the rest, that is for sure.
In that spirit, and even though Quick Takes Pro will be published a few more times this year, I am off to Boca later this week. I don't mind the two feet of snow on the ground here but getting away from the daily grind is a welcome event. Even if my staff and I will be watching the markets from afar - just in case.
This blog will be sporadic for the next week and a half but please do not abandon me.
To all, a happy holiday no matter which one you celebrate.
1 comment:
Happy holidays to you and yours as well, Michael. Thanks for sharing your thoughts -- I always enjoy reading them.
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