Ed. Note - We have added the ability to comment on these posts. Please let me know your thoughts! Just click on the comments link below each post, scroll to the bottom of the next page and add a comment! - GJL
Check out the action in K-Mart. Just bursting upward with no restraint. I'm encouraged by this since K-Mart got relentlessly pounded last year for poor management, slow growth, and underperformance in comps. The reason I'm encouraged is that K-Mart seems to be a bottom low enough for investment, and thus starts to show us where stocks need to be valued in order to move up in this market.
I'm sure you are going to stare in disbelief when I write that I'm hoping we go down further. K-Mart is WAY DOWN, and it now has upward momentum. The rest of the market, unfortunately, is not WAY DOWN enough to equal where K-Mart is rebounding. So we continue to drift around, never creating enough down draft to create a sustainable rally. I believe in this ideal fully. Market momentum is perhaps the most powerful thing it can provide us.
Heres hoping for Dow 9000!!! I hope I'm wrong, but without geopolitical catalysts, and without significant changes in business momentum, I'm afraid all we have is market momentum.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment