I'm as clueless as you Glenn. There's just no confidence out there-- its gone.
Mark,
I agree. We are going to need to watch closely and react hopefully in a profitable manner when we believe we see a change in these factors. It is difficult to predict direction with so many cross currents that seem almost impossible to place in their respective importance. The yield curves, the sentiment, the energy, the foreign markets, the PEs, the market TAs, the changing FA, the mystery of what the Fed will do next, etc. I suspect anyone claiming to know how this will play out has not enough of a clue to know they do not know how it will play out. I believe it is impossible now.
Your call when the market was going up and for example Amazon or otehr stocks you follwed that you stated were going higher was a perfect call. You ahd the abilities and the understanding of the current dynamics to make that call and be very sure you were correct. You read the momentum, supply and demand of the stock, the sentiment, etc. perfectly and none of that was likely to change near term. We are no man's land where any of these factors could change in a hurry. The Fed could change which could affect sentiment, etc.
I am taking your advice and not messing with it.
Glenn |
