It hit 96 yesterday. That’s hot to bicycle and play tennis. Or to wake up early and be ultra-creative.
It’s nice that the market keeps going up. It’s paying for my California sojourn, and more.
I remain wary. Th sun hasn’t fried my brain completely. I am aware that the only thing that keeps going up, with no respite, is my age.
Which may be why these words today from MarketWatch (a Wall Street Journal publication) struck a cord:
Good morning.
Next stop: 1992. That’s the last time the Dow has strung together 11 straight sessions in the green.
It’s also a price level that the S&P, which should break through its 1,565 high today, could end up taking out if this steady march continues.
With bullish sentiment rising at a pace not seen in three years , an economy on the mend and a four-year bull market that’s signaling an upbeat fifth year , there’s no reason to believe this freight train will stop here. It’s triple-witching Friday, which historically punctuates a strong trading week . But let’s not get carried away, says Eddy Elfenbein , telling us what we should already know — but might be ignoring.
“Sure, it’s fun watching your stocks go up each day but we have to temper our expectations. Markets don’t always do what they’re told. Remember that since this bull market started four years ago, the S&P 500 has fallen by 10% three separate times,” he wrote. For now, they ARE doing what they’re told ahead of a pipeline of economic data that will likely reverberate across markets.
Bill Ackman thinks Herbalife is a Ponzi scheme. I’m not convinced. But I am convinced that Ackman is making HLF into a cockroach stock.
Would I short it now? No. Would I own it now? No. For Ackman’s arguments, look at his “deck” of arguments. Click here.
Vanity Fair magazine has a piece on Ackman and Herbalife. Click here.
The Economist is bullish on America. For this weekend’s long report on America’s competitiveness — The America that works — click here.
Younger Generations Lag Parents in Wealth-Building, says a New Times piece today. Click here.
Samsung’s new Galaxy S4 phone will hurt Apple.To wit:
1. The Galaxy S4 is much bigger than the iPhone 5. That makes emails and Internet surfing easier to read. This appeals enormous to old foggies, like me.
2. The phone tracks your movements and your “health.” It does what Nike’s popular $150 Fuel Band and others do.
3. It can talk to another S4 using WiFi. Good for playing games, transferring stuff, etc.
4. You can use it as a remote for your TV.
5. It has a removable battery which means you can carry a spare and never run out of juice. My iPhone 5 is always running out charge. Most irksome.
6. It recognizes gestures as commands.
And other neat stuff. I haven’t played with it, yet. From what I’ve read, I want one. Read more on it. Click here.
Harry Newton who is sad Nadal beat Federer last night. But life moves on. And I do love Nadal.
Yesterday, I bought a few shares in a small Canadian penny oil stock called Mart. it’s actually paying a dividend and yielding nearly 10%. It’s drilling more wells, expanding, has a nice web site (click here) and is clearly the most speculative gamble I own.
Time to go back to sleep. I hear the weather in the east is positively ducky — raining and good only for ducks… I’ll be back this weekend via Virgin America — the only non-stop between Palm Springs and New York’s JFK.
Don’t forget the semi-finals and finals of Indian Wells tennis play out this weekend on The Tennis Channel. Rafa and Joko are still in.
On March 15, 2009 I put $1.7 million in the stock market. Mostly U.S. stocks, w/ a sprinkling of internationals. This was after reading a NY Times op-ed by Warren Buffett explaining why it was NOT another Depression, and how much better things were then than during the Depression. At the time, CNBC talking heads were fretting that the market may go to zero, and most everyone I know was taking their remaining money out of the market and placing it under their mattress. A week or so later that $1.7 million had turned into $1.6 million and I was worried I’d made the biggest mistake of my life. Not so. Today that money had turned into nearly $4 million and it’s helped provide a lifestyle that those who pulled their money out in March of ’09 can only envy.
So, have you sold all the shares? Where are your thoughts on the present market? What do you presently own?
No, I have sold very little. I’m long term holder, won’t touch the money for 20 years. MY thoughts on the present market: It may keep going up, but I don’t buy until there’s blood in the streets. I did pick up a little Apple lately, but that’s because it is over sold.
I am waiting for the traditional rough stretch for the market, May thru Oct, to look for some semi bargains. It may keep going up in the interim, but there WILL be a pronounced pullback to some degree between May and Oct. When everyone is screaming “Crash!” I’ll be buying.
I don’t know why I read this column. Maybe for the jokes? Well, yes. Tech tips? Well, yes. Stock tips? Well, yes. I guess I just like it.
Your post is redundant. THe stock tips here are jokes.
Which ones?
Cliff, you are very observant- yes, there was redundancy in my post. And your post is a statement of the obvious. Congratulations. You brag about your millions. Congratulations. Hey, that was redundancy again. Your other post about burning the flag was very provocative. You are obviously starving for attention, so I hope you feel satisfied that I have replied to you.
You should really set up shop in Cali. You love it there and often complain about
N.Y. Visit N.Y. instead.
Listening to the rooster’s crow about the Bullish stock
market is almost unbearable. The second it turns south (in a few months) these
same guys will be crying about how we could have never seen in coming. It’s enough to make even a dodo bird wonder
what the hell is going on.
Younger generations lack wealth building cause “mom and
dad” are too worried about how much money they’ll have left when they live
to be 140 years old. That and the over
the top “raping” going on with college tuition sets kids up for
poverty.
Harry, try the new Wilson Steam 99S. It’s a game changer…I tried it last night after using my Babolat in the first set and then switched to the Wilson Steam and my opponent couldn’t believe how much it elevated my game. It has a great balance of control, power, spin (does not hurt the arm) and the ball never goes out…Try it!
Thank you. I’ll try it. What level do you play at?
Harry, did you read this article on Herbalife in Vanity Fair? http://www.vanityfair.com/business/2013/04/bill-ackman-dan-loeb-herbalife
No. But I will. Thanks for pointing it out.