Dow = Down

Avid readers will note I haven't posted any stock advice since early February, when I told people to keep their powder dry.  Today or tomorrow the DJIA will test the lows of the year (23,860 on 8 February) and depending on the mood of traders after CBS' 60 Minutes broadcast this Sunday, we may test the lows on Monday of 15 November 2017, when we hit 23,271. 
YTD DJIA - Longs Peak appeared next to Meeker on 20 Feb
Look back at a one-year chart of the Dow, and see how far we've come.  I don't know if it is the budget deal or the interest rate hike or the Chinese rumblings about tariffs  or the three taco combo has investors nervous, but if you bought Amazon at the beginning of the year, you are still up 30%, and 20% if you helped yourself to Twitter.  Facebook, currently in the doghouse of the social media darlings, is still only down 10% YTD.  Ask yourself, did you check your Twitter feed or Facebook updates this morning?  Is FB indeed too big to fail?   How soon before its shares get snapped up by savvy investors?

Local analysts always look for the Longs Peak signal as the klaxxon for jumping back in.  I still am going to await the results of the Duke-Michigan final in college BB before pulling anything from my cash reserves, but this year is far from over, so remember the ancient advice given by a court jester to the ducal family who adored him:  Rather than admire the fish at the water's edge, it is better to step back and throw a net over your wayward daughter.

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