Tuesday, January 23, 2018

Market rise continues

Despite the comment here on Saturday, the equity market continues its upward move.  The highly, hmm, select group of followers of ENS, self-selected, did not rattle others, or ignored what was written. Good for them. Seemingly misunderstood accounting changes related to repatriating overseas earnings made possible by the tax bill are regularly kicking some large stocks down a notch or two on days when they report large write-offs of formerly expected tax reductions, a stock price change that will be recouped within a few days all things being equal.  When various banks and other large global companies report this non-cash charge, even with a cautious approach now I still buy a little extra on the mark down as I did earlier today with JNJ.  These actions do add to market exposure but otherwise seem like easy money.  To reassure anyone who reads here, a regular trading asset was sold today, AOI, to wait for the next opportunity.  Overall market commitment slightly declines.

This is becoming a bit boring.  Big things considered in recent months like ROKU and NVDA were regrettably missed through being overly deliberate, a bad trait in this market.  The most exciting stock watched today was chosen for portfolios years ago, sold here last year but not in one daughter's portfolio, that's Netflix.  Good for her.

There is "an eerie kind of calm" in the market, as a mutual fund and ETF comment in the NYT noted two weeks ago.  The article was every bit as ambivalent is what is being written here... on the other hand...


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