What do we bid on when the market comes in from the auction or because theres too much profit not to take something off the table. What can you still sink your teeth into . As the averages barely budget, dow up 11, s p slipping to. 06 , thats 9 , and even after years and years of managing money in some form or other, these questions swirl through my head as i look over todays action after a big up day yesterday. It is always like this, the big rally, the consolidation, trying to pick what can still move and making sure that you wont buy something that wont be able to will rally because its just plain bad. Now we had a momentum market going here, meaning investors are chasing whats hot and if you dont mind buying high, theres plenty to choose from. It is just ramping and hey, you can buy netflix, amazon. The two sainted stocks that dont need to show earnings as theyre all about the love of their customers. You can use the big secondary offering from facebook, and 41 million shares from
with the market that it s enough to make your head spin. just today i heard many people tell me that this market must trade on the budget submitted by president obama. i heard this document which includes tax increases for the wealthy should be the centerpiece of what happened next in the stock market and that mean, of course, that the stock market should head lower. at the same time i heard the debate about the trillion dollar deficits and how hard it would be for the united states? that should be the controlling factor. that should be the be all and end all of stocks. what happens if the df sit goes from out of control to totally a pock liptec? don t we have to sell stocks now just on that spector? sell, sell, sell, sell. then i heard the obligatory chatter because of the european dominos. the unruly collapse that would bring down portugal and ireland and therefore create a shock to the system that would head you into a global tailspin. if wea, lou the bush tax cu