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Checkin' it Twice

  • I hope today's rally hasn't caught you leaning the wrong way. I know there are a lot of folks out there shouting for a recession, but I think they'll have to wait.  I don't think we're in one now.  I don't think we'll see one in 2008.  Maybe when the crowd quits calling for a recession, that's when one will come.  But not here.  Not now.
  • On my Christmas list?  Moderate growing economy, low inflation, and a continuing uptrend in the stock market.
  • I remain 100% long this market.  New highs ahead.
  • Consumer spending was nice today.  PCE at the core?  .2%.   RIMM beats.  (And nice pic, TG).
  • The "Save Journeyman" campaign sending boxes of Rice-a-Roni to NBC.
  • For lunch?  Pop tarts!  (Blueberry, no frosting).
  • Tonight's bowl pick?  Memphis and the points!
  • The 2008 election circus is already in overdrive.  Once the holidays are over, we're going to be hit with 24x7 election coverage.  It's definitely a bad time for a writer's strike, as the only competition for election coverage will be battle of the choirs or other nonsense.  I think politics is a bunch of noise, and I favor divided government (aka, gridlock).  The more that gets vetoed or stalls out in the process, the better off we are.  I'm a fiscal conservative, so I'm hoping the winners in 2008 can balance the budget and keep taxes low. 

8 Comments:

john bougearel said...

I had the wind at my back. This gap up on the Dec option expiry is reminiscent of 1996-1998 and 1999. Those years all gapped up at least one percent. 1999 and today gapped up 1.5^. a seasonal rally ensued into the 1st half of January in 1999 and 2000. In 1996, the rally extended into late Feb b4 a pause.

muckdog said...

Hopefully, the rally will continue for a bit and get us out of this corrective sideways action.

mo said...

I agree.

I'm 2x long ... fully margin-ed out at the moment ;) ... I usually try NOT to abuse margin but there was so much value in some good names that I just couldn't resist.

john bougearel said...

see my blog postscript footnotes to silver bells for more tidbits on the xmas rallies of the past

successfultradingtips.com

Trading Goddess said...

*stamps foot*

I am tired of this "this corrective sideways action."!

I want my stocks to go to the North Pole!

hehe

Trading Goddess said...

ooooh! Look Mucky! You're famous! :)

muckdog said...

LOL, TG. That's pretty good.

Trading Goddess said...

Yes, a sense of humor is a terrific thing to have, especially when your stocks are in corrective sideways action.

I guess I shouldn't complain, as a corrective sideways action is better than a "let's visit the South Pole and make it snappy" kinda action.

btw, did you happen to look at Mr. Divided's other blog? It appears he is quite the world traveller!

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