Aaron Hernandez Jersey Exchange

A classy move by the Patriots store to allow the exchange of Aaron Hernandez jerseys. 

Get the Tim Tebow jersey.

I still can't believe Hernandez threw away his career.  He signed a $40 million contract last year to play a game.  He was a truly gifted athlete, and that's gone now.

You'd think guys like this would be so thankful and feel blessed, and be on their best behavior.  But... No.

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Pats store offers jersey exchange
ESPN HEADLINES | JUNE 28, 2013
http://pulse.me/s/nBBvO


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SP500 Up 12.6% in First Half

The SP500 was up 12.6% in the first half of 2013.  Pretty good!  I underperformed so far, and am still in cash for now.  

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US stocks fall in quiet end to a bumpy month
AP BUSINESS | JUNE 28, 2013
http://pulse.me/s/nAY0Z


NEW YORK (AP) — Given the wild trading of late, it was a calm close to the month. After flitting between tiny gains and losses most of Friday, the s... Read more

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Fed Jawboning Again!

The Fed's Dudley takes the reigns for today's jawboning efforts. Once again, QE QE QE QE.

As I mentioned in yesterday's audioboo, I think we are seeing end of month/quarter rampage. Looks technically for the SP500 that the 50dma is coming up and could act as resistance. If the market is going to have a larger summer correction, I would expect a bounce down from there.

Of course, Fed jawboning efforts about QE FOREVER seem to be center stage this week. Next week is a holiday week, and I imagine a lot of people are taking the whole week off. Market volume should be light. What's that they say about shorting a dull tape, by the way?

If I had tried to play this bounce and was long, I'd be booking profits before tomorrow, just in case other folks want out before vacation time. Just thinking out loud!

 

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U.S. First-Quarter Growth Drops to 1.8%

Bad economic news means that the Fed QE could keep going and going! GDP for the first quarter drops to 1.8%.  The stock market rallies, but on light volume.

I think it's just end of month and end of quarter stuff, rallying after being quite oversold.  The summer correction is on.  IMHO.

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U.S. First-Quarter Growth Drops to 1.8%
FOX BUSINESS | JUNE 26, 2013
http://pulse.me/s/rPL0KFufe


U.S. economic growth was more tepid than previously estimated in the first quarter, held back by a moderate pace of consumer spending, weak business i... Read more

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#222: Market Thoughts - The Summer Correction

listen to ‘#222: Market Thoughts - The Summer Correction’ on Audioboo

Rally Day

Nice day in the market but I think it was just a bounce. That being said, we are nearing the end of month and the end of the quarter, so "they" could try to rally them.

I remain in cash and being patient.

Earning season starts in July!

GameStop Thoughts

$GME - Remember when GameStop was going to go out of business because everyone was downloading games? Well the stock is up 66% over the past year. LOL.

I don't own the stock. I have no plans to. But it is funny to notice that everyone's predictions have not come to pass – yet.

Market Thoughts

Still in cash. The market selling, they say, because of Fed plans to "taper" and poor Chinese PMI. Although, did the Fed really say anything new or unexpected? Did the news of slowing growth in china surprise anyone?

There are a lot of profits in the market and the battle is always between fear and greed. So maybe this is fear taking over and people want to book their games ahead of summer.

A lot of people have been worried about inflation yet have we seen inflation? Well, maybe we have. Maybe the inflation has been in stock prices and real estate. After all, It seems as if most of the quantitative easing money has gone to banks and the rich and we really haven't seen the money get pushed into wages. And wage inflation is one of the things that would push up prices of everything. But instead, what we've seen is stock prices go up and real estate values go up so maybe that's where the inflation is.

Of course, with unemployment so high, there doesn't seem to be a reason to raise wages to fight over workers. It also seems as if we have enough supply of workers to meet current demand.

Anyways, I'm just thinking out loud.

So, I remain in cash. I still expect a summer correction. Nothing really has changed!

#221: Quick Thoughts

listen to ‘#221: Quick Thoughts’ on Audioboo

Status Quo for Me

On a day where a lot of eyes were watching $AAPL WWDC, The market had a calm day for a change. Apple didn't announce much and sold off a little.

I'm still sitting on my hands. Not chasing stocks up here and believe that a correction is coming. I suppose the argument could be made that last weeks retest (again) of the 50dma on the SP500 was the correction. Seems like the market doesn't want to sell off more than that. Meanwhile, interest rates are sneaking up but still pretty low.

Days like today almost seem calming and relaxing, setting up whatever is next.

Another 50dma Bounce

Darn. Another market bounce off the 50dma. Obvious, right? Should have played it. But sometimes when we all see it, that's when it stops working. And this was the third bounce in the uptrend.

Doesn't matter. Jobs report is what we will all be watching tomorrow. Will it be seen as good news or bad news?

Some folks seem to be hoping for a middle of the road number. But everything has been so mediocre in this recovery. Wouldn't it REALLY be better if we were creating more jobs?

June Swoon

Sell in June... Market selling continues. Many folks were predicting another retest or slight new highs on the SP500 before the Summer selling began. Still could happen.

But think of all the 2013 profits there are to protect out there. The market has had a great start to the year - heck, for a full year it would be a great return.

Anyway, I'm still in cash and being patient. Not that I won't try to play a bounce should things get extreme. But so far I've been sitting on my hands.
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See the start Dodgers rookie Yasiel Puig is off to in his first two games?

Bodega Bay Randomosity!

* Another stock reversal on Friday. I think investors have a lot of profits to protect.

* I'm in cash still and being patient. I believe there will be a summer correction and that it probably got underway a week ago Wednesday on the key reversal day.

* Investors chasing yields in utilities, reits, and dividend payers have taken the hit with rising rates. Could be a big buying opportunity in some of these down the road.

* Spent the weekend in Bodega Bay. Nice! Cool! Breezy! I much prefer the SoCal beaches, but these are very pretty.

* Game 7 between Pacers and Heat...

* Dodgers - yuck.