I kind of listened to my own opinion from this morning. I sold half of an industrial stock I own that is up a lot. It still finished the day higher despite the turnaround in the market this afternoon.
I have been extra concerned about the market the last few days (I have mentioned this) and this morning I wondered, in a previous post if the great start today might fade. I admit to being very surprised.
I'm sure you will be able to find more intelligent commentary about the turn around today, but this seems like lousy action.
If I am wrong and the market skyrockets from here I might lag a little which, given my lack of faith for the next few weeks is OK by me.
I said earlier I would update the blog with the when if not the what; well this is a little bit of when.
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Random Roger
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2 comments:
Roger,
I think inflation fears are lurking with oil climbing today as well as gold, it seemed inevitable that the market would turn down.
I am afraid that the economy isn't well managed with Congress renewing stimulating tax cuts and the Federal Reserve tapping on the breaks trying to cool off the inflation pressures.
Sort of reminds me of two kids out for a joy ride with one kid with his foot on the brake and the other madly pumping the gas. No wonder the care is veering out of control.
Bob
"am afraid that the economy isn't well managed"
Managed economies are one of those statist Communist/Democrat things. Never has worked out yet today we have Democrsats trying to reprise the Jimmuh Carter energy mismanagement. Democrats learned nothing from that fiasco. Carter was fired for cause.
Fred
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