Still on the sidelines
Sure, reports are coming in that the economy is doing well. We knew that. And IBM announced strong results. Great. And housing is slowing rapidly (new construction is down 5.3%).
None of this is surprising and all consistent with what I've said.
But we've been here before and seen the market turn weak again. The market is not behaving rationally (or as rationally as it should). When oil is surging, oil services companies are flush with cash but their stocks don't show it. ESV releases reports that show a doubling of prices, but no reaction. Mining reports are released that show strong markets, but mining stocks slip.
Today is a nice day, but I want to see continued strength before I get in.
None of this is surprising and all consistent with what I've said.
But we've been here before and seen the market turn weak again. The market is not behaving rationally (or as rationally as it should). When oil is surging, oil services companies are flush with cash but their stocks don't show it. ESV releases reports that show a doubling of prices, but no reaction. Mining reports are released that show strong markets, but mining stocks slip.
Today is a nice day, but I want to see continued strength before I get in.
posted by Andrew at
7:22 AM
1 Comments:
Did LiveRocket ( LV) dump AAPL puts yet ? What's your take on AAPL bouncing back today before the results.
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