Roller Coaster Ride
The day ended up, imagine that and close to the Obama bottom.
Cramer took his shot at the Obama bottom not holding. Well, at least Obama and moi are willing to stick with it.We may be off 5% but we are willing to have our name associated with it. Cramer will call several bottoms and remind us how he was right. A broken clock is right twice a day.
I thought the high unemployment right would drive the market down. Instead it opened higher...a rally... well then for no reason that I could tell the market dove. The rally scared the market. It was upredictable. For another unknown reason, the market ended on a rally. Based on what? The question is what happened in one day that would cause the market to change in value by 6%..the answer..rumors, fear...nothing logical.
I cannot wait for the day when the markets are boring again. After all the important news, earnings, economic reports and the like are in before the opening bell. It is the only way to have orderly markets. By 10:30, the day used to be over. there would be some selling by the end of the day. The void during the day is filled with unsubstantiated rumors, remrks by the economic gurus and CNBC blathering away joined by the FOX business channel. Imagine if the markets behaved more orderly, traded on real data. They would have no ratings..so they have to move the markets.
Perhaps the most prophetic comment was the market will lag the recovery. I can live with that. Anything the market does between now and April is noise.Earnings season is around the corner. The reports will arrive. I expect good news, better profits. They will no doubt be discounted by the markets. Eventually, fundamentals have to mean something, again.
Cramer took his shot at the Obama bottom not holding. Well, at least Obama and moi are willing to stick with it.We may be off 5% but we are willing to have our name associated with it. Cramer will call several bottoms and remind us how he was right. A broken clock is right twice a day.
I thought the high unemployment right would drive the market down. Instead it opened higher...a rally... well then for no reason that I could tell the market dove. The rally scared the market. It was upredictable. For another unknown reason, the market ended on a rally. Based on what? The question is what happened in one day that would cause the market to change in value by 6%..the answer..rumors, fear...nothing logical.
I cannot wait for the day when the markets are boring again. After all the important news, earnings, economic reports and the like are in before the opening bell. It is the only way to have orderly markets. By 10:30, the day used to be over. there would be some selling by the end of the day. The void during the day is filled with unsubstantiated rumors, remrks by the economic gurus and CNBC blathering away joined by the FOX business channel. Imagine if the markets behaved more orderly, traded on real data. They would have no ratings..so they have to move the markets.
Perhaps the most prophetic comment was the market will lag the recovery. I can live with that. Anything the market does between now and April is noise.Earnings season is around the corner. The reports will arrive. I expect good news, better profits. They will no doubt be discounted by the markets. Eventually, fundamentals have to mean something, again.
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