The market looks a little wobbly here and a 200-300 point give back would not surprise us. Remember, the market (as measured by the Dow) is at 9,051 right now. Thats more than 2,000 points higher than it was in early March.
Durable goods orders this morning were weaker than expected and much of today’s action can be attributed to that number. Europe was strong overnight with the Dax up 2.2% and DJ Euro Stock Index up 1.4%.
Its almost August and volume is likely to lighten so volatility may spike but as we have stated for a bit we believe the market enters 2010 higher than it is now. For now, replace companies, funds and bonds that you don’t like with ones you do if the market hiccups and concentrate on enjoying whatever decent weather comes our way.
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Any specific stocks named in this presentation may not be representative of current or future investments in the portfolio to which they belong. You should not assume that investments in the securities identified were or will be profitable. We will furnish, upon your request, a list of all securities purchased, sold, or held in the portfolio during the twelve months preceding the date of this presentation.
Please note that all data is for general information purposes only and not meant as specific recommendations. The opinions of the authors are not a recommendation to buy or sell the stock, bond market or any security contained therein. Securities contain risks and fluctuations in principal will occur. Research any investment thoroughly prior to committing money or consult with your financial advisor. Please note that Fagan Associates, Inc or related persons buy or sell for itself securities that it also recommends to clients. Consult with your financial advisor prior to making any changes to your portfolio.
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