Today feels uglier than the roughly 4 SPX points we are down right now. I think this is because literally every foreign stock on my board is down, which has got to be hard to do.
This would be an easy time to get shaken out of something based on emotion, especially in the energy sector.
I have reduced domestic exposure by about 8%, in general terms, for fully implemented clients. New clients have various, high amounts of cash as I am slowing down the normal implementation process for those folks.
A little caution never hurt anyone, but too much on the other hand...
Proud Member Of
Random Roger
© 2009 | Gadget Theme Blogger Template
Original WPtheme By Blogger Template | Converted By Gadget Lover
| Distributed by eFree Blogger Help
Original WPtheme By Blogger Template | Converted By Gadget Lover
| Distributed by eFree Blogger Help
5 comments:
The apparent collapse of RefCo (NYSE: RFX) might be part of the problem. That's a pretty significant futures player, could create some liquidity issues - don't think just stopping trading in the stock is going to help if the company is really undercapitalzed and can't clear contracts currently on the books.
Unfortunately the NYSE, SEC and RefCo aren't talking so we can't get the real news - at least until Spitzer takes over (what a way to run a system).
RW
Hey Roger, I don't track foreign market much because I don't understand them. My money manager has some of my money in a Japanese ETF, and another person that I know of has quite some exposure in Mexican market. What's your exposure on those and what do you think of them. From I have seen/heard, both seemed to be doing quite well this year so far
Roger: to paraphrase the Midrash Shocher Tov, "It is always darkest before the dawn." Here's hoping that the current market action doesn't shake you out of convictions. I also have some exposure to foreign equities which pay dividends and trade at low P/E's. Hopefully, the buyers will come out of hibernation and give the sellers a rest (I could be wrong though).
Seems to me that the oils ( at least the IYE and the IGE ) are just comming back to their up-trendlines...nothing too serious yet. The Dow looks morbid.
What if it turns out FNM and FRE have "trouble"?
g
Good stuff as always, Roger. Markets this side of the Pond seem to be taking heart from your rather tame Core CPI number just now... I wonder if that is one half of the validation investors need to get over their current little bout of nerves - the other being a little reassurance from the earnings season. With a bit of luck, you'll get the chance to use your cash before too long.
Post a Comment