What an interesting two days it has been. In general, things have been pretty positive. Busy, but positive. The market seems to be holding above 10,700 which is good news for the bulls like me who see the Dow breaking 11,000 by the middle of January. I have some new clients and accounts coming aboard this week, which us always good.
Yet, no matter how good things look, there is always that pesky cloud that shows up every now and then. My clouds are EOI and EOS. Why have these two funds (along with all the other equity option funds out there) been hammered the last two days? There is no fundamental reason and I have been scratching my head since Monday morning. Not even my illustrious research department can help out on things...I just got some lame blurb about year-end tax-loss selling. I'm going to chalk it up to a market "conundrum" and suggest backing up the truck. That's the secret that all you market watchers need to realize. If you are a buyer when nobody else likes the stock, you are going to win quite a few of those bets in the long run. That's why the big boys make money and the little guys don't...a simple matter of having the balls to pull the trigger when it feels wrong to do so.
As for the "big surprise", it sure was a BIG one today. Unfortunately for all you readers, I have sworn an oath of secrecy until a later date. Don't you HATE it when someone does that to you? Soon enough, grasshopper....soon enough. Lets just say that one of my friends recently had a life changing experience. Stay tuned for the details....
1 comment:
I know what it is...
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