Not one to toot my own horn too loudly (well, okay toot toot), I pretty much called the markets on Friday. The stock markets were flat to slightly lower. It was pretty easy because the nature of the current stock market is to waffle with the slight downward drift. How do I know?
Easy. People are scared and great at following the leader.
Ever notice how early in the morning when the East Coast newsfeeds start making it out before other parts of the country are even up they already set the tone of what they think the market will be? It doesn’t always work that way but when there isn’t any earthshaking news (including actual earthquakes that shake) the nature of the market is to follow the pattern and the current drift is slightly down because the perception is that things are better off than a few months ago.
Personally, I doubt it though I am hoping for the best.
My suggestion and opinion (worth what you are paying for it, nothing) is that you can’t fight a trend (if markets are drifting down) but you can also for the short term (intraday or every few days) watch for a slight bump in the other direction. It may not last and you may want to do, no, I insist you do your own due diligence.
How is the weekend going for you? If you are enjoying yourself, take some time to look at how the financial and other sectors are doing and see if you can “call it” yourself. Start tracking yourself and see if you can out guru the stock market gurus. Most don’t know what they are talking about, myself included.
Stay safe, healthy, happy and may your business and life prosper!
Kim Isaac Greenblatt
May 23 2009 Mid Day
Kim Isaac Greenblatt
Did I Call It On 05 23 09 or what?
Tags: Business