I'll Do It Tomorrow

  • This market might have more downside but I don't believe that is today's business. I think this rally will hold.
  • The best thing this rally has going for it is that so few people believe in it. One day when the market teaches everyone to be skeptical of all rallies the rally will stick.
  • My only purchase yesterday was JFR. It is a closed end mutual fund that holds bank loans. Bank loans have not rallied with the market in the past few weeks. I believe that the end of the quarter was putting pressure on them as banks want to show a clean balance sheet and hedge funds that hold them were facing redemptions. Now that the quarter is over I believe those pressures will abate.
  • I did not get nearly get the amount of shares of JFR that I wanted to, nor was I able to get some other merchandise I was looking to buy. In the past year I have been able to wait for the market to come to me. Recently, that has not been working as well.

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