JUST LETTING YOU KNOW…
Today was another day where the market on “now so great news” was down pretty decently. In fact the Dow, at one time today, was down 107 points, but closed down only 20. We’ve have a few days like this recently where the market opens bad and finishes better. That’s good news. The not so good news is that is seems that the market is having some trouble right around this area, which not such a big deal.
It’s had a pretty decent move in January. There is a real high bullishness and we’re getting some frothiness too. It would be normal for us to just sit around or pullback for a period of time. I’d be the happiest guy if the market just sat around for a couple weeks and just traded within a few percent. It would set up the chart that much better…and let some good leadership show up.
So I repeat, I define great leadership as by finding a lot of great growth stocks busting out. There’s one now off of this Apple gap…and that’s Apple. Now hopefully, if the market stays in gear, more and more are gonna show up. Time will tell. I don’t know. But the one thing I am seeing, in spite of a lot of bullishness and no bearishness and that the market’s a little stretched and extended here. The sell-offs have lasted hours. Now we’re really had not gains in the past couple weeks. That’s not that bad.
I believe this week, we have the ADP report on Thursday. We have the Fake Unemployment report on Friday. And out of Europe…it seems the market couldn’t give a “you know what” about Europe right now. As of right now, it’s a market of steel.
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Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.