Tuesday, August 24, 2010

Green today? Still a shot!!

Just in case you bears need some night vision goggles to get out of your haze!!


Anonymous said...

where do you think this market is heading for the rest of the year? seems very bearish at the moment with last night overseas trade ...it's like the bears have the crystal ball saying we're going down hard.

Palmoni said...

sure the macro outlook looks bad right now--but I think that stock prices already reflect that.

1% or less GDP growth--that's probably on deck with the revisions

but I just don't see things going down here

I think the market moves are exaggerated by all the HFT traders--both up and down...and since we have had such a sideways, consolidated action--it's hard for me to get bearish on stock prices

the economy could get a little more sloppy..but I don't think that will mean stock prices will come down

they've come down enough

I think oil is low enough here, to provide a little boost, and with rates back down --well you have a little more stimulus there also...

I know I'm not giving a whole lot to hang your hat on--but I just really really really like how the market feels right here..

the stuff I like--I see buyers...and if you have hundreds of millions to deploy--well you have to do it on days like today..

I just really really really like things here--I know I'm repeating myself, but the market, to me, looks fantastic right now

and I just don't think we are going to have one of these massive swoon downs that will allow everyone that has been bearish to have the gift that they are looking for

Anonymous said...

Shouldn't you wait for the dip under 10k to buy calls?

Anonymous said...

Thanks Palmoni...i bought BAC at mid 14s and Dell at 12...so bleeding there a bit...along with my mgms....i'm always deploying at the wrong time.

Palmoni said...

yeh I have stuff that I'm just sitting with also--but had some good action elsewhere to make things interesting

well I gotta go vote--see if I can get rid of some these Democrats!