Why Bother

Investor darlings, Ford and Amazon, missed estimates and are down hard in the pre-market. Normally, that would lead to a swoon in the futures. However, investors are not bothering to send the futures lower only to rally them later on. They are just rallying them higher now.

The market has made it through a normally seasonally weak period with little damage and we are now entering what is normally a seasonally strong period until the end of the day on Wednesday. Seasonality is not a be all, end all but it has worked extremely well in the past year. I remain modestly net short and the phrase, "thank you sir may I have another" comes to mind.


Anonymous said...

The phrase that comes to mind for me everyday is...What goes up must come down!

Anonymous said...

I hear you, but isn't it always like this right at the very top? Denial denial denial, fire fire fire.