A nice day shaping up here with futures markets in general upbeat and stock indexes even better.
Stocks rise on Ukraine diplomacy, ECB easing speculation
Don't Bet Against This Stock Market - Lawrence McMillan, MarketWatch
The Insider-Trading Hysteria - Charles Gasparino, National Review
One of my buddies in our morning coffee group has been catching hell from me for the past year. He’s been predicting a spectacular market crash for over a year, and of course has been wrong. I tell him, in front of all the rest, that his bogus advice has cost me untold thousands in losses.
I say that he’s a perfect “contrary indicator.”
It’s all in fun of course, as he is retired, financially secure, and a local county commissioner who’s personal fiscal habits also translate to his votes on the commission.
But he never had the nerve to invest in equities, because they’re “too risky.” What he accumulated, he earned from pure thrift, interest on CD’s, and purchases of land. The land has some gas production on it, and timber harvests, so there is an income stream from it.
I’ve really enjoyed gigging him the past year about it all.
One day, when the market does correct, he’ll finally trumpet “I told you so!!”