Greed, for lack of a better word, is good. Sorry, michael douglas. Youre a good looking guy and fabulously a big fan of our show. But youre wrong. Greed is bad. Not good. We have such amazing gains here and you have to ask yourself if youve taken anything off the table yet. Think about it. This has been a real good run. And even if you are as bullish as i am dont you have to think about ringing the register on something . On anything . With the idea that if the market reverses youll have the cash to buy, buy, buy. I want you to just ponder it over the week. We took out a lot of highs today. Dow up s p 500 rockets, nasdaq up 0. 7 . Now look i am not saying i dont like it here. I think we have a right to run after a big, bad event. You know ive been bullish as all get out, urging you to buy every one of these dips we been having. Im just saying when you see these kinds of monster moving going mighter, you have to remember there are going to be speed bumps. When we hit those speed bumps,
First, even after this twoday, markets not down much at all. The s p 500s only off about 4 , dows off 5. 7 , nasdaq which totally red hot going into this week is down 3. 2 . Barely down at all especially when you consider this high index is up 22 for the year. That perspective matters. Today the high fliers in the nasdaq, the linkedin, teslas finally cracked, my favors celgene, regeneron and gilead. But very few can hold up even if they dont have that economic sensitivity. These highfly selloffs dont end in a day or two. They tend to last three four days before they start bouncing back and usually bounce back with a vengeance. Accept theyve been big winners and big winners do sell off and then your call not mine whether you can handle the disturbance, or if you want to ring the register, i suspect theyll go back when the deal is done. Again, perspective on things. As i like to do every time i get discouraged like today, i take a look at the wall street journal from october 4th of 2011.
First, even after this twoday, markets not down much at all. The s p 500s only off about 4 , dows off 5. 7 , nasdaq which totally red hot going into this week is down 3. T2 . Barely down at all especially when you consider this high index is up 22 for the year. That perspective matters. Today the high fliers in the nasdaq, the linkedin, teslas finally cracked, my favors celgene, regeneron and gilead. But very few can hold up even if they dont have that economic sensitivity. These highfly selloffs dont end in a day or two. They tend to last three four days before they start bouncing back and usually bounce back with a vengeance. Accept theyve been big winners and big winners do sell off and then your call not mine whether you can handle the disturbance, or if you want to ring the register, i suspect theyll go back when the deal is done. Again, perspective on things. As i like to do every time i get discouraged like today, i take a look at the wall street journal from october 4th of 2011
Points, s p plummeting 2. 28 , nasdaq diving. Weve got to tick down the reasons for the decline so youre aware and can be ready for the next leg. First, people are afraid of a second weak employment number in a row when we get the nonfarm payroll number on friday. You know what, they should be afraid. All right . Should be concerned. The research from get rich carefully shows one number can be explained away, but two . No. Whether or not you think its true or false. It doesnt matter. The market asterisks nothing. It takes stocks right to the wood shed. Second reason for the decline, the recession stocks, the foods, the drugs, the staples. Theyre acting like its the end of the world, or at least the end of the developed world. The declines in these stocks are breathtaking. When the Global Economy slows, these stocks are supposed to go higher, but they arent. Maybe the emerging markets arent strong enough. People are getting nervous that the safe havens are no longer safe. Even with trea
Witness the dow plunging 326 points, s p plummeting 2. 28 , nasdaq nosediving. Weve got to tick down the reasons for the decline so youre aware and can be ready for the next leg. First, people are afraid of a second weak employment number in a row when we get the nonfarm payroll number on friday. You know what, they should be afraid. All right . Should be concerned. The research from get rich carefully shows that one lousy employment number can be explained away, but two . No. Thats when people talk about a slowdown in the economy, whether or not you think its true or false. It doesnt matter. The market asterisks nothing. It takes stocks right to the wood shed. Second reason for the decline, the recession stocks, the foods, the drugs, the staples. Theyre acting like its the end of the world, or at least the end of the developed world. The declines in these stocks are breathtaking. When the Global Economy slows, these stocks are supposed to go higher, but they arent. Maybe the emerging