$$ - The market continues to act well - sorta. Dow Theory be damned as the transports crashed and continue to underperform as the market rests near highs last seen in 2007. Despite the selloff early on, the market rallied late. The economic news continues to suck. Countries around the world are printing money and trying to stimulate their economies.
Not much change in my portfolio. I still have cash and low beta stuff. Pondering what to do about the failure of sell in May this year. Dollar cost average back in or wait until October? I don't feel like chasing things right now, but there is an emotional tug to get back in because I'm "missing it." (The rally... even though I am participating in lower beta things).
Did I hear that the Fed is buying the majority of the US debt now? And if they didn't, interest rates would need to go up to attract buyers? At least that's what's on the other part of the Mitt Romney secret video that the media isn't playing.
Oh, and the issue with the European debt relief fund is that nobody wants to make a deposit in it. And many countries would have to borrow money and create more debt to put money in a debt relief fund.
Crazy. Wasn't that a plot of a Three Stooges video? Larry tried to borrow money from a relief fund that Moe refused to fund while Curly tried to eat oyster soup?
Anyway, wall of worry. The market is strong and everyone is telling us not to fight the Fed and we have to be long because the end result of money falling from the skies is higher stock prices. And 16,000 layoffs at $BAC. Ah, never mind. Asset prices have to increase with all this money being invented, right?
The polls have Obama up. I mean Romney up. I mean it's a tie. I mean, no, it's up to Ohio to figure out who will be the next President so why does the rest of the country even follow the election?
Oh, and the issue with the European debt relief fund is that nobody wants to make a deposit in it. And many countries would have to borrow money and create more debt to put money in a debt relief fund.
Crazy. Wasn't that a plot of a Three Stooges video? Larry tried to borrow money from a relief fund that Moe refused to fund while Curly tried to eat oyster soup?
Anyway, wall of worry. The market is strong and everyone is telling us not to fight the Fed and we have to be long because the end result of money falling from the skies is higher stock prices. And 16,000 layoffs at $BAC. Ah, never mind. Asset prices have to increase with all this money being invented, right?
The polls have Obama up. I mean Romney up. I mean it's a tie. I mean, no, it's up to Ohio to figure out who will be the next President so why does the rest of the country even follow the election?
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I have a new job and I took last week off, so that's why things have been sparse around these parts. More tomorrow. And football picks, too!
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