We raised cash Thursday after
the meager post-election pop. The pattern for the majority of the last ten
years has been that after the rally off the October lows another test occurs
mid-November to mid-December. We may be being too cute but we donít think we
are risking much gain to increase our buying power at this time.
The October lows were made in
the media nonsense rage over Ebola killing everyone, ISIL
invading the U.S. through Mexico, Russia
taking over Ukraine and the European Common
market going down the drain.
Could that have been election
The reality is the markets are
at an all-time high; Unemployment is 5.8%; the annual budget deficit is
shirking; and Europe and Japan are
even lowering interest rates with Japan
buying stocks. Too bad.
And so our guess is that
normal market trends my control for a while.
During the week we took a very
nice profit in Whole Foods making almost enough money to afford at least one
shopping trip. We also avoided disaster in Abercrombie by luckily selling at a
wash loss the day before the company announced same store sales down 12% for
the quarter. We traded Sprouts Food Market by selling the day before earningís
and buying back lower the next day. We had a small profit on the trade. We sold
Huntington, Alcoa, GM common and Juniper
for varying gains.
We may be repurchasing some of
them if the markets allow at some point in the next month.
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