We were not willing to strip for Dow 12,000 , but 13,000 is another story. Due to a small clause in Lindsay’s contract – one her agent missed – The Dow 13,000 clause kicked in and ‘Broker’s Gone Wild’ has become a reality.
Stick around for the ending…trust me. I though she had just changed her hair style.
Lindsay will be firing her agent for sure.
All kidding aside, do not treat these fantastic market gains lightly. I am not bearish, and it is not my style to be negative. Furthermore, price action in stocks has me feeling giddy, but being a hog will get you slaughtered.
I hate giving back gains, but I will be doing so when the market goes down becase I try and do as little market timing as possible. As a trend follower I have no alternative but to wait for a clear sell signal and right now I am 100 plus percent long in my stock portfolio. There are no sell signals in my portfolio.
If I was trading on feel and smarts, I would have sold all my stocks a while ago. I make for bad stock market conversation at cocktail parties but my lack of brains have been good for profits. That said, there is a lot of good priced into stock prices. I don’t know about cheap versus expensive, but stock prices on a global basis have been trending up for a long time now and volatility has been very low. My experience tells me that things change, so don’t be a hog.
Brian agrees with me that picking tops is just plain difficult, but that a lot of good is baked into stock prices at the moment. A great technical look at the Dow:
I hope to do Wallstrip 14,000 and 15,000 before seeing 12,000. What do you think?
Here was the show where we posed the Dow 13,000 question. There were some hysterical answers but some amazingly accurate predictions in the comments.
Steve Kats was amazingly close as was Susan. At least I was bullish and had the right year.
The market looks as unstoppable as I have ever seen it. In 1999-2000 it was goofy. Today, it is a calm steady climb. The Drug stocks and Basic Materials have really helped the Dow move from 12,000-13,000.
I still prefer the high growth stocks like Apple, Garmin, Chipotles, and Baidu. I am long all of them.
I bugged the Wallstrip crew to get a feel for the bullishness and they hit the street for a Dow 13,000 show last week. We wanted to know when!
Funny stuff as usual from the citizens. Who knew that a 400 plus point drop in the DOW and a 9 percent decline in China awaited us?
You can’t cry about it, like this loser , you need to keep yourself alert for the opportunities that come along after a selloff like this. Is it the beginning of the end? Is this a pause that refreshes?
For the US, my opinion is this is a pause that refreshes. BUT, I am long and still comfortable with what I own. I am looking to add some Wallstrip stocks and a little Starbucks down here.
The bears were all sweaty with joy at he hype surrounding Dow 12,000. Gold was climbing, Oil was on fire and the US dollar was crap. It was for sure a TOP! NOT!
At the time, I blogged about the breakouts and that being negative was going to cost you as prices were telegraphing big strength. Not much has changed today and the Wallstrip Dow Industrials show remains one of my favorites.
So Robert Nardelli gets a $210 million exit package for being at Home Depot for three years.
I am considered by certain close friends to be “Apathetic Right Wing”, but let this blog post serve as a limit to my apathy. WTF.
No PUBLIC, corporate officer deserves this much money.
Who is governing this whole shebang. The Board of Directors is negligent and obviously rules need to be set because Boards don’t have any balls. OR COMMON SENSE.
I must fade the ridiculous RECORD CLOSE “BUG” on CNBC and just bought some SMH, SPY and FDX in the money Feb puts. Premiums are really low which likely means I am a sucker. If the shoe fits…
No real reason to get aggressive here other than to fade the putz’s at CNBC and I have been eyeing this trade.
As I said a few weeks ago, I am getting off margin every day and will have 20-30 percent cash by earnings season.
As Todd Harrison mentioned in his very good Wallstrip Interview, the DOW may be at an all-time high, but few feel richer. I am long Todd this year not so much on his opinions but his skepticism. I am in a show me mood for 2007. That goes for Web 2.0 and stocks. I want everything to work out, but the good cards have been dealt and lots of money has been made by a few and let’s see if the masses can get some in 2007. Color me skeptical. Sorry.
