A little note from the fly on da wall, me.
Again bartending has its advantages, last night the conversation of many "wealthy" Philadelphians was about........take a guess........
DOW 10,000.
The public is full on waitin' and waitin' and waitin', they smell it like a shark does blood. One man promised his wife new hardwood floors when the DOW hit 10,000. Not "if", "when". One hairdresser praised himself for buying into Janus 20 monday, "just in time ". Two women were talking about funds, one was asking about a correction, the other responded with, "we just had one, the market's fine.
And one little indicator I always find amusing, IBD sales in the Rittenhouse Sq. WAWA (local all night convenience store chain), when the market gets choppy, usually towards the bottom of a correction IBD is sold out early, at 2 a.m. last night there were still 3 on the stand, and a ton of WSJ. No need to follow the market, it's gettin' better. The public seems to feel safe right now. Oh well.
All true and kinda funny, from my perspective.
Cheers,
D |
