The 10k dance

The stock market is doing the 10k dance. Apple announces earnings that crush the street and it’s easy to see why the market races through 10,000. DuPont expressed almost optimism and futures indicate a higher open.
Currently the Dow is trading at 10,008 as selling and the “we’ve come too far too fast crowd takes over”.
We may have come too far too fast ,but (and this is a big but) it’s pretty clear that earnings are better and a lot better than what people had been expecting.
It’s mostly earnings and little on the top-line side of things but companies have for the most part done a solid job of managing costs and expectations through a tough time.

We seem to get a couple of calls daily from CD owners unhappy with prevailing and renewal rates. This lends “grass roots” credence to the idea of large amounts of money on the sideline seeking alternative ideas. If some of this “sideline” money is yours, our advice is dollar cost average, be diversified, know your time horizon and move in a disciplined and decisive manner.

This entry was posted on Tuesday, October 20th, 2009 at 11:21 am and is filed under Commentary. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.