Bottom feeders nibbling today. I am seeing Dow well below 20,000 in 2019. Tax cuts no longer possible with democrats in charge of House. And not many regulations left to remove. And we must keep tariff wars active for the sake of future American jobs in manufacturing.
Europe still has very low interest rates and their economy is worse shape than ours. And they have no room left to stimulate with lower rates.
Right now I like energy and precious metals as defensive stocks.
Here's something interesting ...
I am active in several business networking groups including a regional Chamber of Commerce whose members include some of the largest national companies in banking, telecommunications and pharmaceuticals. Most of them are having trouble attracting and retaining members -- because their members are so busy they can't handle the demands on their schedules for networking events.
I have never seen anything like this in my professional career.
I see the strength of the U.S. dollar being a very important driver in the next couple of years. On a monthly basis, the U.S. Dollar Index (DXY) reached a low point of 80 in July 2011. Its highest point was 128 in March 1985. At the end of November 2018 it was at 103.
For those of you who can remember, I'd ask one question: Does it feel more like 1985 or 2011 right now?