Wednesday, September 9, 2009

Vacation Time?

My motiviation for blogging is really waning because nothing seems relevent to me. I could have done a very long post yesterday on the record drop in consumer credit. The implications for that are massive. Why bother? The market went up yesterday and today. The market doesn't care. The beige book today which showed "stabilization" could be worthy of a post. Market is pricing in 4% GDP growth so stabilization at this point should be a negative. NASDAQ set new highs today. Stocks that may possibly be cheap aren't going up (example could be Wal Mart which has gone nowhere for 6 months) while trash does not stop going up.

When you have JP Morgan upgrade GE yesterday because of sentiment and the stocks goes up 4%, you know your just living in loony land. How a massively funded fundamental equity shop can upgrade a company because of sentiment is beyond me. Goldman came with the second punch today also offering an upgrade. Of course Goldman at least tried to rationalize some fundamentals.

I could talk about Latvia and the new issues developing there. Same with Spain. I could talk about the growing danger signs of problems in option arms but none of it matters until it does. In the interim the market can keep going up on low volume with a few names driving the indexes higher. That is all that is relevent, currently.

Maybe it is just a month long vacation time. Keep the portfolio in place and forget about it. That would probably be best.

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