Hi Pat,
So...the relationship between the market and our friend has grown peculiar, to say the least. I agree that a hike is priced in, which means that if we _don't_ get one, the market will go down (uncertainty), and if we do get one, the market will go up - except that many are predicting that G will hike three times to counter the three cuts last year, since the economy is strong. 100 years from now they'll look at this like bizarro world. Economy's strong - everyone's afraid of the fed - market is scared and bearish; Signs of a weakening economy - no risk of fed intervention - stocks go bullish through the roof. Crazy, really.
As far as VRSN is concerned, I think it will follow its usu. pattern until the 3q results - then we'll know. BTW, for once in my life I made (almost) all the right moves with FFIV - B38, S79. Watching it closely now.
Best Regards,
- Jer |
