“To frustrate the most number of people”

It is the market’s mission to frustrate and annoy the most number of people. Individual investors are particularly mystified by the stock market.

We awake this morning to Dow Jones futures roughly 70 points above fair value and S&P futures 7 points above fair value. Frankly that surprised us! The market has shown a predisposition to pinball between gains and losses lately (and volatilely). We expected a morning run back towards 10,000 on the Dow.
A commmon cry in the office has been “don’t chase” and conversely “pick away at good companies” - this is good advice.
As the market rallies, bide your time and enjoy and as it recedes, gradually establish positions in good companies.

This entry was posted on Monday, June 14th, 2010 at 7:59 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.