One of the important assets in the portfolio right now
It’s a flat trading pulse out there this morning, with the markets just beating back and forth around unchanged on the day. Path of least resistance is most likely down for now, and it could get slippery before the trading day is entirely over.
I saw some wild, shocking, unbelievable headlines this morning that explained the entire action of thousands of publicly traded stocks by millions of investors today:
- 11:33am Tuesday, November 8, 2011: U.S. Stocks Slide on Italian Impasse – Today’s Market
Oh wait, it might be a little trickier than that, no? Take a look at this RSS Markets Feed over the last week:
- 8:49am Tuesday, November 8, 2011: U.S. Stocks Rise Ahead of Italian Vote – Today’s Market
- 4:46pm Monday, November 7, 2011: Stocks Recover on European Crisis Reassurances – Today’s Market
- 8:55am Monday, November 7, 2011: Futures Fall as Focus Shifts to Italy – Today’s Market
- 5:35pm Friday, November 4, 2011: Stocks Slump on Questions About Greece – Today’s Market
- 8:54am Friday, November 4, 2011: Stock Futures Shrug off Jobs Report – Today’s Market
- 5:07pm Thursday, November 3, 2011: Dow Closes Above 12,000 as Greece Drops Bailout Vote – Today’s Market
- 9:27am Thursday, November 3, 2011: Futures Tick Higher After ECB Cuts Rates – Today’s Market
- 4:50pm Wednesday, November 2, 2011: Stocks Climb Back as Fed Vows More Support if Needed – Today’s Market
- 9:16am Wednesday, November 2, 2011: Futures Edge Higher After Sharp Selloff – Today’s Market
Can you imagine trying to game/trade/understand those headlines? Stay focused people. The bottom line is that we have indeed had a huge run in these markets and especially in our portfolios in the last few weeks and while we might still get a Santa Claus rally into year end, we’re not exactly post-Txgiving yet, you know? Patience remains one of the most important assets in the portfolio right now.
