Pushing On A String

That is how my day is going. Anytime I come to Phoenix I have to get eight hours of work done in four hours. Being in the office takes me from what I think I should be doing which is reading, watching and writing. Fortunately I had to stop at my in-laws on the way in. There, I feel better.

Some may view this differently but I think the follow through today after yeasterday's big move is a positive. I have been writing for weeks that I think we could have a decent move up coming, unless the move to 1235 was it.

It seems like a lot of folks expect September to be down also. I have mentioned a couple of times that only six times in the last 20 years has the S+P 500 been down in both August and September. It a plus but that's about it. My gut says that assuming no external shock, like Ophelia being close to Katrina in magnitude, this month will be ok.

I have been short term positive for a couple of months but the market does punish high octane stocks that have bad news. That speaks to using ETFs for certain sectors, like tech or biotech.

Above all else if my opinion about what I think will happen is wrong I will not hesitate to make changes.