I have been of the opinion since February 27 that there would be more volatility in the market and that while this could be the start of a multi month rolling over I would not expect action on one day to be particularly telling.
This may seem difficult to reconcile but what I mean, and have been saying, is that a fast move down is likely to retrace quickly as has been the case (partial retracement anyway). If the market is going to rollover slowly I would expect the number of big days to wane, the market to creep lower and for fewer people to be worried.
Wikinvest Wire
4 comments:
Headlines "Housing surprise sends stocks tumbling." Just who are they speaking of that was surprised?
I'm overweight in PM and Oil-related, and they have been doing well. Reducing risk and favoring large cap. The Iran issue will keep oil high until we enter hurricane season, IMHO. It's forecast to be a severe 'cane year.
Added some DNH and FCX today for a little more stability, PWE and BPT last week for the divs. EXC chart looks tempting.
Knock 'em dead on Fast Money, Roger!
That's a coincidence. I just bought PWE today as well.
Thanks for reminding us that bull markets end over a long period of time and that one day does not a retirement make. In 2000, some tenants of mine were waiting for their good fortune in the market to return, as their full service broker had promised. I was not invested, or paying attention at the time, but it was abundantly clear from the nightly news that the bull was dead and buried. I now try to remember that it's the non-financial paper headlines that make the big conclusions simple without the two handed economists.
Sometimes the most appropriate investment presents itself out of the ashes of hysteric media newsprint, internet angst or perhaps a drop or two of blood in the streets.
There are excellent Class A real estate investment opportunities, both commercial and residential, for the diversified investor at this time.
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