- Market break out today. Nice way to start a month. Market picks up where the last three months have left off.
- My market indicators are neither here nor there, but are starting to show some negative divergences. Volume was also a little light. But price is the best indicator of all and prices were up! As I said back when I had a sell signal (who can remember when the heck that was), I was going to stay long until the market confirmed the signal. It was close once. I've remained long, rotating around here and there, and haven't seen any reason to sell.
- The contrarians are out talking about excessive bullishness, but I'm not sure we're really there. And if we were, who can say whether or not the trend will continue? After all, the crowd does get the majority of the trend right, and tends to miss the inflection points. Nobody was bullish in early March. They missed that. They just got excited about things later. This can run awhile.
- Or it can sell off with the Summer. We are still in the monthly strength period where money flows into 401(k) funds.
- Sad news today is that I had to have my cat put to sleep. She was 17 and went downhill quickly the last few weeks. Just a little over a month since I had the dog put to sleep. Now I am pet-less. So I've spent the evening going through old photos. I was pretty teary earlier today, and I swear I keep looking for her to turn the corner, but it was something I had to do. I couldn't stand to see her in pain.
- Okay, pictures to resume soon.
Monday, June 01, 2009
June 1st Rally and My Cat
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