This sounds like soured graped being flung at the reader class. I swear on a stack of holy Korans, I am in the least bit upset that markets closed higher today.
Having said that, 55% of stocks ended LOWER today. Odds are, if you’re reading this now, you lost money today and have been scratching your balls since noon, wondering where all the gains are being enjoyed.
Also, oil ended down 4%. The market hasn’t really digested the reversal in crude just yet. At $46 per barrel, the entire country of Venezuela is starving. Then again, why should we care?
Moving on.
In summary, the only sector that was noteworthy today were the utilities.
TLT was higher by 0.5% to new highs. The hounds are allocating, heavily, into dividend payers, ahead of a long summer of debauchery.
As you were.
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@Fly – Your thoughts on Blue Bottle coffee?
never had it
Looks like the big boys led the way, with the exception of GOOGL:
http://www.finviz.com/map.ashx?t=sec
Heck, even XOM and CVX were up as energy (XLE) extends it’s losing streak to 7 days. It’s almost as if someone was buying the mega-cap stocks strictly to manipulate indexes up…
We would get along fine after a few beers
I cant do the suggestive cynical stuff
thats all
Have to pull curtain back full into logic
That other or new readers might see it
and wakeup
I was up more during the sell off
is Jeff Macke coming back?
Jeff has melted into the ether.
Is OG fly ever coming back?
‘car people’
that’s why index funds work well..: no need to guess which stocks will perform
The reason Index stock work well:
1) we are usually in a bull market
2) index fundss award higher weight to higher cap stocks
3) higher PEs, up-trends, etc, lead to higher market caps
In other words, index funds go by the mantra: “let your winners run” as opposed to “buy high, sell low”.
Index funds get crushed during bear markets becuase they are holding large positions in stocks that have had large run-ups (high market cap).