First, Houston blogger Laura went on the Houston to Austion 150 mile bike ride for MS. If it's in your heart, please contribute.
So what is it that keeps fueling this market? Too much skepticism? I think I must be in "the crowd." Although I'm try to run with the crowd during the trend and then be the contrarian and spot the zag when the market is zigging, I'm wondering if I'm standing in a crowd of zag watchers. Although I'm net long with the conservative holdings acting well, I do have that cash on the sidelines and underperforming mo-mos.
Here comes the fork in the road, right? And a choice must be made. I mean, what does one do at this point? Patiently wait for some sort of health restoring event before jumping in? Chase the market and hope not to be the Greater Fool? Dollar cost average in, up the Netflix subscriptions to "unlimited" per month and swear never-ever to try and time the market again? What has served me well over the years is patience. No reason to get caught up in the emotional swell of stocks rising day after day for weeks on end. That never lasts for too long.
I think I'm going to get drubbed with my CNBC earnings picks today, as afterhours there is some 'splainin' to do in the conference calls, Lucy. Eh, LVS was a stretch. Casinos are packed, though. Maybe it's just me losing money at those darn things. The most expensive free cocktails on the planet!
Lets go for more randoms, eh?
- Bought a webcam today. Something to mess around with.
- Blogging economists draw big crowd. On the one hand... On the other hand...
- Madd Money recaps. Yah, lotsa food stocks doing well. That Chipotle is always packed at lunchtime around here. As Yogi might say, nobody goes there anymore because it's too crowded! (Seriously, I don't go there because I don't like waiting in long lines). Anyways, it is amazing with gasoline prices so high. What are consumers cutting back on? Maybe if we lined up the discretionary spending stocks we could see where the impact of high fuel prices are.
- Decided to take a break from cycling this year. Instead, I'm weightlifting and inline skating. Something different.
- People moving from CA to... Phoenix! From Larry. He also reports that Nicholas Cage's home in SF is up on the market.
- And Mark Hulbert has an interesting column up at CBS Marketwatch that discusses the the skepticism on market timers about this market. So they're not wildly bearish, but don't want to take on too much risk here. Seem familiar? Zag watchers while the market is zigging!