Tuesday, October 02, 2018

Market comment...

Do I dare try to do this anymore?  The market today was relatively static overall, but it feels as if there is a rumbling of something to come, a tremor.  The climb of gold, GLD, was an unusual event relative to the past year.  Inevitably contrarian approaches to this market will arise, and the thought  always is whether someone knows more than others.  Someone does, but who.  That varies.  As an example, in a widely watched interview with Warren Buffett two weeks ago, he touted airline stocks as undervalued and suggested owning the big four as he does.  Having Delta and American here, they had a bump after that day and have been dropping ever since.  Oracle of Oh.

Facebook continued its collapse at the rate of 2% a day and until this abates, few will come in as it looks as if some major positions are being dumped.  Small fry like me just watches.  Two tech additions in recent months have been going in different directions, although both slipped today ---Roku down 5%, but no worry as it's been a rocket overall and Red Hat, -2% for today and down as a position.  Banks are stagnant recently as they should be.  They have done well and can sit and rest for awhile. They are not research plays, not even their own research for the most part.

So that's my two cents worth, if that much. Since CNBC is not a daily payment, is that saying this is worth something more.


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