With all of the concerns in the market - in a month that is not one of the best for equities - the bear is still hibernating.
That is not to say the bull is running wild in the streets. The S&P 500’s stock index continues to hold around 4100.
While it can’t seem to get beyond 4200, it is not pushing south to 4000.
This may be just the markets adjusting all that may concern investors.
This week, the President and leaders of Congress are to meet to discuss some resolution to the debt ceiling needing to be raised.
I would suggest that there will be a temporary adjustment to get to allow for some negotiation.
The Administration is realizing that digging in is not politically constructive. The legislature
finds little it wants to cut, but our level of debt is growing even though we are collecting more taxes than ever.
The age old problem of spending out running the income.
But as you all know, there is nothing fun about saving. Sort of like paying for insurance that you hope you never need.
One of the major concerns out of the debt ceiling has been the plight of regional banks.
Some have pointed to short sellers pushing the markets to sell.
This week some of these regional banks are finding favor as deposits and loans have made a comeback.
It is more evidence that the economy moves on.
This was a real area of value and I have taken advantage, but you have to be careful.
I am not worried about picking the bottom, I just want to feel we have hit bottom and now are on the way back.
This has been one of the few value plays in quite some time.
Berkshire Hathaway had their annual meeting with Mr. Buffet and Munger speaking.
I would suggest that you go the Buffet@CNBC.com and view the interview with stock holders.
It may not provide the latest technological perspective, but it will give you some common sense evaluations of why they buy what they do.
Mr. Buffet could not say more positive things about Apple.
Simply put, it is the best company period.
As he says, most will give up almost everything but their phone.
With the old thought of sell in May and go away, we shall see what the oncoming summer brings.
The election process will be in full swing.
You have international events to assess and that doesn’t mean coronations.
The debate will rage on as to whether there will be a recession and what will the Fed do next.
Not so sure this will be the lazy hazy days of summer.