Busy Busy

Today I am manning our fire station with another of our firefighters. Our wildfire danger is at its peak this week due to very hot weather. For those who don't know I actively volunteer as firefighter in my little community. All we do is wildfires and structure protection we do not go into burning buildings which, to me, is a huge step up in risk. The day doesn't start until 9am. Before then I have a new account to implement and some other work to do.

The market has had a big run, is it dumb to implement a new client up here? I can't know until later but this is a question that comes up all the time. This is easy, if the market goes up from here it is a good idea. If the market goes down from here it is a bad idea. Doh! That's the point, there is no way to know. As a matter of philosophy I do not invest an entire account all at once. If the market goes up the account will lag for a while and if the market goes down the account will outperform. There is no way around this that I can see whether I wade in or go all at once. Usually, on day one, I go in with 40%-50%. If it matters, with this new account I will be going in with only 25% today. While I don't know what the next two weeks will bring, would anyone be shocked if the next 40 SPX points was down?

Different point; my thought that earnings would not be the most important thing may really get challenged today with the GE news.

Today is options expiration, I wonder if anyone cares?