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8 comments:
Why shocked? The way i see it is that we now have a 1 day window for the big boys to push up their quarter numbers.
fair point, just a hunch.
To be clear I do not root for a decline.
1350 here we come!
The fed says,
"The extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook for both inflation and economic growth,"
I try not to watch the news, and their interpretation. I think inclusion of economic growth in the above statement makes today's rally sustainable, beyond end of quarter window dressing.Then again, volatility is not to be underestimated. Damm glad I'm in this rally. And, foreign exposure is likely to get a goose. Dollar is weak, signficantly.
been reading your blog for a month or so....
you don't strike me as a trader, so why bother to try and predict one day moves up or down?
seems your time is much better spent on portfolio/asset allocation decisions, than on idle speculation on what tomorrows trading may bring...
always strikes me that the best long term money managers (college endowments) focus on asset choices rather than trading short term moves...
good question.
Generally I think there is value in trying to have a feel for short term moves in the market even if you don't trade on it.
Part of what I try to do for clients is to completely remove my emotion from the process.
Reducing the number of times I am surprised helps me to that end, remaining emotionally detached.
Further, our clients, my partners and to a much lesser extent the little bit of media that I do wants to know from me what is going on short term.
if i figure this site out, i'll try to post under a real name.....
back to the "why bother predicting" comment...
seems to me that it cheapens the real discipline of asset allocation by pretending you know what tomorrows trading will bring...
truth is, it doesn't matter.....unless you were planning to do some trading tomorrow.....
what really matters is whether you get your portfolio allocation right.....and if people want to know about tomorrows trade action, tell them to buy a lottery ticket, because you have more important things to spend time on.....
cheapens the discipline? I don't really know what that means.
Plenty of folks do as you say with regard to following the market short term and of course it is valid but your comments seem to imply absolutes which if you read this site is not something I am a fan of.
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