I write about heeding messages of the market. I may have to do some heeding today with a couple of trades.
I am also heeding a different message today. We were supposed to hike the grand canyon tomorrow. We do a rim-to-rim hike of the canyon every so often and we had one planned for Friday. Its about 21 miles and takes about ten hours.
Yesterday my wife's family had to deal with her father because he has a bad blood clot in his leg.
We had worked out the logistics, which mostly involved dog sitting, to still go to the canyon. This morning we woke up to find our puppy, Tater Tot, has what seems to be an obstruction of some sort and she is in a lot of pain. Joellyn, my wife, is taking the dog to the vet when they open at 8am.
Someone does not want us to go hike, so we won't.
This can be relevant to the market as well. Heeding what you think the market is saying makes a lot of sense. If the market is not higher toward the end of the day I will sell a little bit of stock as I mentioned yesterday. Here's hoping the market goes up and stays up.
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3 comments:
Now is the time to buy Encysive Pharmaceuticals. Their stock has ridden the market's downward spiral and is now a steal. Their new product called Thelin will be approved in the coming months and then a stock purchase will be too late.
Next time you go to the Grand Canyon, pack some hotdogs and beans in a flashlight and see if you can find Bobby and Cindy Brady.
Roger, best wishes to the family and puppy...
Meanwhile, I think your approach is a sensible one to avoid being thoroughly whip-sawed. On this side of the pond, equities have "tried" to bounce off their lows three or four times during the day. As I write, the fourth attempt seems to be working and we are looking to close well off our lows for the day. Good news; I think investors still want to buy equities. However, even though European markets differ from the US in having remained well above their rising 200d MA, I suspect we will still need a positive lead from the US in the next few days to bring back the exuberant attitudes investors showed last month. But we shouldn't be scared of a correction after the monumental rise we've seen - it's perfectly good and healthy, and if you have cash you can make the most of the pullback. It might be over in a day or two; it might take a little longer. I see nothing to suggest that the mass of investor opinion that goes into driving prices has changed fundamentally yet; no new data or story in the past few days that is quite powerful enough to have such a massive effect on the big picture; surely the Services ISM is an excuse for a sell-off, not a real cause, and - wow - oil prices are falling, so don;t under-estimate the impact that price falls in the big energy stocks are having on some markets. But the long-term story for the oil bulls hasn't changed yet. Or I might be completely wrong and be staring at an end to the cyclical bull market we've enjoyed for the last two years; but I wouldn't make that call just yet.
I don't understand the relevance of the biotech tout at all.
Hey Londoner, thank you for sharing your thoughts. Good stuff.
Our dog it not seriously ill, just mildly so.
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