- The market bulls continue to run over anyone standing in their way. Picking a market top is extremely difficult. Those trying to short the strength are taking a beating. Fighting the trend is a losing strategy! That's why I prefer a more moderate strategy. I've moved some cash to the sidelines and lowered beta, but continue to look for short-term set-ups and am quick to book gains and move to the next one. If the market continues up in a straight line, I'll underperform. If the market churns here near the highs going nowhere, I'll outperform. If the market turns south, I'll outperform. Theoretically, anyways.
- Speaking of fighting the trend, Robert Gates says the US is not winning in Iraq. So, that would mean we're losing. Nobody would say that politcally, but isn't that what "not winning" means? Or is this like the "deferred success" that UK teachers wanted to tell school kids who are failing? Hey, maybe we should call the Iraq War "deferred winning."
- In bull markets, good news is good for the stock market, and bad news is good for the stock market. When folks want to buy, they buy. Every downtick reassures folks that this is the "early innings" and that they're getting in at the ground floor on prices. Sure, ignore the buyouts at ridiculous prices. Buy Station Casinos at $82 a share; could've had it for under $10 a few years ago. But now, $82 is a deal! Ground floor!
- New York has voted to ban transfats from restaurants! So if you want some really crappy fries, go to New York!
- Britney Spears tops Yahoo searches! ...a surge in online voyeurs seeking recently posted pictures of Britney sans panties didn't hurt. Shocker! Britney sure seems to have gotten in touch with her inner wild child.
- Cliffhanger on Heroes last night. And Sylar is on the loose yet again. Gee, who'd have predicted that one? Although did you predict which Hero would die? The one who did was my second choice. Close. But like a stock chart, it always seems obvious in retrospect.
