I feel like the "old man" here... trying to use my experience to herd cats...
I'd love to see a show of hands of how many felt "fear" yesterday with a measly down 300 day... vs how many saw a buying opportunity... vs how many said "ho hum" this is just the way the market works - pay no attention to it.
I bought a couple new positions in a different account yesterday. I'm not even going to say what they were because it doesn't really matter. What does matter is that I only bought part of a position. I nibbled. I expect to get another opportunity to add to my position and I actually hope to be able to average them down not up.
We need MORE earnings reports to see how the economy is going. I think it's going "okay" but I also feel it's still rather fragile. Just "okay" isn't where we need to be - we need to really get the engine humming again. It's so much more fun when things are smoking along at a good clip. STABLE is what I'd like to see -- not on top of the fence trying to balance.
Interesting by the way -- was the talking heads discussing FUNDAMENTAL changes in eating habits ---- regarding the big earnings beat by Chipotle Mexican Grill (CMG) vs the earnings "miss" by McDonalds (MCD). Is there a shift in eating by the younger generation -- to healthier "real foods"? It's something to pay attention to...
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