Ok, the stock dropped today as expected, but the velocity and ferocity are nowhere to see. It looks more like a profit taking more than anything else, if you can get 5% return without breaking a sweat in 2 days, take the profit. A few days like past two days in a year, you can beat Warren Buffet. Plus, tomorrow is the option expiration day, so, no surpriese here, even tomorrow could be choppy too...
But the matter of fact is that the bull is having a uphand, between now to October, the market could be up a couple more percentage point. And this is not lucky guess, this is based on the sound logic :). well, the quarter ending window dressing is here, friends. Before you get your quarterly mutual fund reports, those fund managers will try all they can to make their portofolio positive. So, stay with those strong stocks in the next week. If you think fundamentals matters, think again. When people determine collectively to buy, Any resistance is like a cricket in front of a moving truck, just look at china's market...
If you have watched NBA games in TV, you will find out that the commentator f ESPN are funny, they are always with winners, they could heap all the praise on Yao Ming if Rocket is in the lead, look how gracious he moves, how accruate he shots, how fast he is considering his size.... but they could instanously turned to negative if Rocket fall behind.. he lacks stamina.. his aggresiveness is in question, his fault trouble... etc...
It is the same as in the CNBC, if the stock is up, it seems like everything is great.. but if there is down day, oh, my god, it seems like apocalypse is here...
Today, the market was virtually flat, but a lot of naysayers showed up to talk about Dollars, oil prices, commodities etc... I guess the people working in Wall Street must be too much stress, they can never relax, even faced with a good prospects, they are still worried...
Hm,,.. can we have some fun...