If Wallstrip’s stock shows were and index, we would be gathering assets like crazy. We are on fire. It just so happens that trend following and momentum investing are red hot these days. It WON’T last, I just won’t or can’t predict when it will end. You enjoy the ride and be responsible booking partial profits along the way and moving your stop prices slowly upward.
Tomorrow on Wallstrip, Lindsay is hitting the street for New Yorker’s best stock picks. In this market, the average New Yorker will hit a homerun. Too bad they hate the market and only 5 percent of the individuals asked would offer a tip.
The TAKEAWAY – This market is so NOT 1999. I would be all over IPO’s if I had any pull.
Just like our Google show exposed “man on the street” hatred of Google’s run $40 ago, this show exposes “man on the street” indifference to todays’ market and stocks in general.
In 1999, we would have had people screaming stock picks at Lindsay. TODAY – I heard some 30 year old say Pfizer, I heard a postman say the market was for “Mugs”, I heard Time Warner and I heard Google’s stock had SLOWED (earth to PUTZ…come in)!. Triple Lindy Yawner!
Flashback to 1999 and Lindsay would have been bombarded with stock picks and the postman would have been on the phone with his broker! Instead of telling her to marry rich, she would have gotten three proposals :).
Today, they told her to BUY REAL ESTATE.
Don’t even ask me how fast I would be hitting the bid on New York real estate right now (if I owned any :) ).
PS – No wonder CNBC’s ratings and advertising dollars are in the toilet, likely never to return.
Disclosure – LONG America (for now).