Welcome back, Steve. You're still buying lower than I did in June (although a few of the stocks I bought then -- DELL, MSFT and INTC -- are up substantially since then). Surprisingly, I had been kind of concerned the last few days. I wanted to see a better rally off last week's lows, but maybe it was just delayed due to short-term concerns. We seem to have sold on the rumor and bought on the news, so this could be just a relief rally, but the change in market sentiment is notable, and market sentiment does not change easily (IMHO). So I would rate the market short-term positive, with Sept.-Oct. the big question mark: you know, warnings, earnings, the usual. It is worth noting, however, that if you throw out last October as an aberration triggered by the circuit breakers (an explanation I buy), that a 9.8% correction on the Dow is about the maximum for this market, and for low-inflation markets in general. Good luck to you.
Paul
P.S. What'd you buy? |
