It was just another how hum week of panic and missed opportunities in the market.
My pal Phil calls it right with this wrap up post on the ‘Week in Cyprus‘.
My friends at Alley Insider (I am a biased investor) were creating their usual breathless and awesome headlines and slideshows of all the great Cypriot news and Cyprus Economic Whizzes and ‘Cyprusiots’ You Must Follow on Twitter. I of course just want my pants back from the scoundrels.
None of that will make you money, just dizzy and overinformed. In the business I am in, headlines do not pay the bills, either do page views.
One read of The Stocktwits 50, which is likely all 99 percent of the investing public needs to scan for 30 minutes a week, and you realize that Cyprus was a misdirection.
What stood out for me this were four stocks – Adobe, Nike, Blackberry and Federal Express (disclosure long $ADBE $NKE, think I should be short $BBRY, love $FDX). Cyprus did not help or hurt any of them.
Their breakouts and breakdowns all mattered more to Mr. Market than Cyprus.
This week might be different of course.
Price leads headlines on the way up and price leads headlines on the way down. Price matters to great traders and investors. Headlines matter to media companies.