Were presuming that everything is too high until proven innocent. At one point today precisely at 11 43 a. M. We saw sheer, raw, panic. The kind you get when investors just capitulate because they cant take the pain. The the house of pain any longer. It seemed like a crescendo selloff, thats what i like to call them as the averages rebounded in the afternoon and the dow slipping four points and the s p advancing. 1 and if we get the wrong employment number tomorrow, too strong or too weak, i think well see another 11 43 a. M. Like panic. What can you do . You know what i say . I say nobody ever made a dime panicking, but plenty of people have made a dime taking the other side of a panicked trade, a panic occurs when those with weak hands violently dump sell, sell, sell, sell, sell all their stocks at once, the good with the bad which allows you to pick among the rubble and maybe pull some babies out of the bathwater. So tonight im taking the other side of the panic trade and giving you
Building real wealth. Not just living off your paycheck. Theres some people, call them the 1 , if you want, who can make enough from their ordinary daytoday income to become truly rich, but for the vast majority of americans, the paycheck its simply not enough to get you there. You need to augment it. If you keep watching, im going to tell you how to do just that for the rest of your life. Usually, i come out here and tell you whats happening in the market. There are a lot of other things you have to do if you want to pay off to mean something. Tonights the exception. You may not want to hear this, but its absolutely fruitless to think you can get rich in stocks if you havent laid down a foundation for building longterm wealth beforehand. You can make a fortune in the market, but if youre at best, youll stay afloat when if you planned things better, it might have let you become filthy rich. Three things you must take care of first. I dont usually address these subjects. Sometimes, i fe
Whats the operative question that defines this moment when the dow roared 98 points. The r and p err, s p soared to time high. Arent we too complacent . Hey jim, arent we too complacent as it arent the bulls way too smug . Arent they too positive, too optimistic and unaware of the risk this market poses . Theres one hiej pruge problem this school of thought. You really need to have solid, if not overwhelming evidence that the facts warrant selling. You have to be able to look at the world and decide things are much worse than they appear. That is what keep tripping up those who raise cash because they think we are being too complacent. If you are worried about complacency then you really need a back drop thats not worth being complacent over. One that contains a massive amount of obvious but ignored risk. In other words, its not a mistake for the bulls to be complacent if they also happen to be right. There in lies the dilemma people. Because in this market, every time you decide to pu
Accelerating to believing that commerce has peaked and is now going downhill, which is why counterintuitively the dow gained 91 points, the nasdaq pole vaulted 1. 02 today. At the same time, a rally in the russian stock market, coupled with ukraines absence from the headlines and the fact that president obamas not inflaming the situation because hes on vacation have created an aura of diplomatic possibilities that are totally at odds with where weve been since the downing of mh17. Now, before i go over the markets, this new view, i want to explain the way i work. Boy, even after nine years on air, continues to elude people. The monologue is about what the market thinks at this moment and why the stocks went from point a to point b. About what did happen not necessarily what should be happening. In reality, my actual world view is at odds with the manicdepressive swings that this market gives you constantly. I dont like the all or none, black and white thinking buy, buy, buy of a market
The quarter one of the best quarters of this year of this reporting season along with conns. Has had enough time under the belt to get the kinks out. So i think pvh will do well. It was disconcerting that the stock got hit today for 65 cents. Yeah, it was down 65 cents, though, to 130. And thats daunting on a big up day. That does concern me as a former trader that somebody knows something but the details, the clues are all there. Tuesdays more retail. And we know retails been incredibly inconsistent lately. More on that later. If youve been executing well, you can make money here. So i would bet that this First Quarter that we get from Burlington Coat factory as a public company, i think it could be a good one. I like that idea. One of the stocks weve been seemingly behind forever is auto zone, azl, because the average car on the highway is 11 years old. They need to keep the cars running. We heard pep boys on monday. Pep boys is bad. Do not immediately extrapolate autozone. Now, ther