Nothing like a dull week to get your attention.
We had record-setting highs on the averages and indexes and profit taking set in.
Analysts had all sorts of explanations for the how and why when it was just people making sure they captured a profit.
I see no long-term new trend except for the fact that should we move up again to record highs, there will be profit taking.
The rest of the trading week paled in comparison to the political news that the Democratic Party would be selecting a different candidate than the primaries elected.
It seems we just can’t get away from politics until November.
The election’s result will affect the future of the economy, there is no doubt.
I’m certain though that my one main concern about the deficit will not be addressed.
I have seen concern raised when perfectly good companies announce earnings that meet expectations and get a quick haircut as the market sells the stock off.
At these price-to-earnings rations, a company has to seriously exceed expectations.
That makes it hard to buy at this level, but it is not a sign to sell.
Now other things can give pause, such as the internet outage last week caused by Crowd Strike.
To expect perfection each and every day is too much.
There will be mistakes and it is only how quickly that is done and the company takes ownership.
You have seen the worst action possible out of Boeing, but Crowd Strike stepped up and took the medicine quickly got the issue resolved.
Unfortunately for many travelers and banking customers, it took too long.
It does point out the importance of the various companies that provide cyber security.
It seems that these companies will be printing money in the future.
Trying to base your investment strategy on the outcome in November can be wasted effort.
Trump was sailing along with a rather robust economy and the pandemic put that to bed.
There are so many other issues that must be given accounting.
Far too many for my taste.
That is why I look for value.
Sounds good, but you can find yourself like me sitting on the sidelines for a long time.
It does not suit younger investors that have taken to the stock market like legalized gambling.
That, of course, is always the case until the market really turns south.
We only had minor corrections and buying back in has been rewarded more and more.
I am all in on the market going higher as it just grows my asset base.
I’ve lived long enough to know that nothing goes on forever.
People’s time line has gotten shorter these days.
We have zero date options, which are seriously the closest thing to gambling you can get.
Then you have Bitcoin to account for, which has no value outside of demand.
But neither does the U.S. dollar.
But I have to argue that at least the U.S. Government stands behind the dollar.
Some would laugh at that thought, but I wish we would never have given up the gold standard.
I know, old man, old ideas.
All I can say is that this summer will be far from boring.
You have the Olympics and politics.
I haven’t even mentioned the weather.
Simply suggesting that one not check out completely as it does pay to be vigilant.