The Dow Jones Industrial Average continues its hiatus from doom and gloom yesterday – up more than 100 points so far today on what would be its fourth consecutive winning session.
A four-day winning streak may not seem like much, but as The Daily Reckoning faithful will recall, the Dow has fallen for six straight weeks. Perhaps the Blue Chips will fall for a seventh straight week, but so far the Dow is solidly in the black.
Sure, the reasons for lightening up on stocks remain just as compelling today as they did last week (and the five weeks before that), but that doesn’t mean the stock market has to fall every day.
Greece is still racing towards an inevitable default, America’s governmental finances – from Washington to Sacramento – are still sickly and the US economy’s performance still continues to disappoint.
So, yeah, stocks might drop again tomorrow…http://www.blogger.com/img/blank.gif
But there is “a time for everything,” as the writer of Ecclesiastes observed about three millennia ago…and the Byrds re-iterated about three decades ago. And this week – so far – is simply not the time for selling.
Ample time remains for selling stocks, of course,…and also for buying them. But when it comes to buying, you know our view: Stick with the companies that provide indispensable goods and services. Stick with the companies that provide the world’s “must haves,” rather than the world’s “like to haves.”
Read more: Economic News and Ideas on Debt, the Market, Gold, Oil, and Investing. http://dailyreckoning.com/
No comments:
Post a Comment