You know, I try to keep CNBC muted most of the day.
It just gives me too much of headlines news type perspective. You know, the same stuff but will recycle it every 30 minutes. But, last week I seemed to be paying attention. When FDX warns (a front end type), a railroad CEO says it ain't over (another front end type), and the SWK ceo says April sales were worse than March, which were worse than February ... I just got to pay attention. Now, the gurus that brought us the new paradigm theme would like us to believe that this time it is different; jump on the train before it leaves the station ...
It really does get old after a while.
Nonetheless, as I wrote to AS, due to no fault of his own, his excessive bullish attitude may be right. Interest rates are certainly not the issue. The Fed reacts on this one. However, I cannot ignore the fact that they are flooding the Market with liquidity, and I ignored the fourth quarter run of 1999 by not understanding this issue.
A good friend of mine, Trading Machine, has done some research on the issue and the various Indexes are connected at the hip. Until they all break out, this is just noise. As I mentioned to AS, if you were not in the Market on the day AG & Co cut the rate in April, two days in front of options expiration, it probably has not been a great experience.
Then, I'm at 59% cash in my little Phleet and hope to increase it in the morning.
Just a View from the Swamp
Berney |
