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The header pretty much says it all. Dow, SP giving back gains. Nasdaq and R2k still up respectably. My bank stock is out of black and into red. Guess the Financials will take another hit today. (BHB. very low volume, too.). Warch TRP Financials: PRISX. My newest darling, Norsk Hydro, is still up. NHYDY.
No disrespect intended. I’m as guilty as anyone of reacting to day-to-day changes. But I listened to Barry Ritholtz recently make the point that sometimes sitting back and ignoring these mini-fluturations in markets and portfolio value is a better practice. He pointed out that few of us check the value of our home or other real estate daily, or the current resale value of our motor vehicles. Yet, over time those values rise and fall.
This week the hype (media-wise) is all about “Jackson Hole” where St. Powell is scheduled to give a speech Friday. Not because the speech will mean much, but because the talking heads on Bloomberg & CNBC need something to hype in order to maintain viewership. Yes, the markets have been in the doldrums a while. I have no explanation. The various commodities markets, however (including the miners), have been a hoot to watch this week. Some of those stocks / funds have soared up & back down 3-4% in a single day’s time this week. Wow. Like watching fireworks.
....now or 12 months later sp500 may reach that stage
Although most analysts from big-whales institutions are now singing sp500 finish near average 4400 -4500 by yr end [boa ML Subramanian most bearish 3600s -Jp Morgan Lakosstate 4900 bullish]
No disrespect intended. I’m as guilty as anyone of reacting to day-to-day changes. But I listened to Barry Ritholtz recently make the point that sometimes sitting back and ignoring these mini-fluturations in markets and portfolio value is a better practice. He pointed out that few of us check the value of our home or other real estate daily, or the current resale value of our motor vehicles. Yet, over time those values rise and fall.
This week the hype (media-wise) is all about “Jackson Hole” where St. Powell is scheduled to give a speech Friday. Not because the speech will mean much, but because the talking heads on Bloomberg & CNBC need something to hype in order to maintain viewership. Yes, the markets have been in the doldrums a while. I have no explanation. The various commodities markets, however (including the miners), have been a hoot to watch this week. Some of those stocks / funds have soared up & back down 3-4% in a single day’s time this week. Wow. Like watching fireworks.
(Edited for brevity)
Not bad advice @hank. And Ritholtz is smart. As for me, I have the interest and the time. Plus, I'm babysitting some other people's money. So, I have some RESPONSIBILITY, too. I stay in the batter's box, ready for the next pitch. I may not swing, though. Usually, NOT. But with the info I gather, I get to see patterns. And I sometimes uncover some good shit I did not know about. And that's helpful.
Comments
This week the hype (media-wise) is all about “Jackson Hole” where St. Powell is scheduled to give a speech Friday. Not because the speech will mean much, but because the talking heads on Bloomberg & CNBC need something to hype in order to maintain viewership. Yes, the markets have been in the doldrums a while. I have no explanation. The various commodities markets, however (including the miners), have been a hoot to watch this week. Some of those stocks / funds have soared up & back down 3-4% in a single day’s time this week. Wow. Like watching fireworks.
(Edited for brevity)
One of these days, months or years; with your various predictions on an almost daily basis recently, your money ship may arrive.
....now or 12 months later sp500 may reach that stage
Although most analysts from big-whales institutions are now singing sp500 finish near average 4400 -4500 by yr end
[boa ML Subramanian most bearish 3600s -Jp Morgan Lakosstate 4900 bullish]