Market Has Winning Week
Welp, the market did it! We ended up on the week! Hooray! Recovery is back on!
I love reading the experts and their explanations of why the market did this or that. Why it went up or down. Here is a good one from a recap article from the associated press:
“The market is nervous,” said Joe Heider, principal at Rehmann Financial in Cleveland. “It’s reacting on a day-to-day basis.”
Ok, got it Joe. Thanks.
Furthermore, you gotta love the article with the headline: Prep Your Portfolio For Next Week published over at CNBC.com. Yes, that makes sense. Let’s make our moves based on a week-long time frame. I’m sure the track record for such a strategy is just fantastic.
On the consumer front, two conflicting reports out today. Retail sales put in a bad number, dropping unexpectedly (side note: Why is every piece economic of data always unexpected? What do these economists do all day?). However, when we thought the recovery was over, we were saved with a jump in consumer sentiment! Well which way is it? Are we back or not? Ah heck, I better go read that article on prepping my portfolio for next week again.
Probably best to ignore these reports. Sorry for even mentioning them to you.
Enjoy the weekend!