Well, we’re here. 20,000 on the Dow and the view from this altitude … for now … seems pretty nice. In fact, the market just opened with yet another gain.
Sure, the jobless claims number came in this morning a bit higher than expected … but volatility around holiday hiring is being blamed (although I will never understand why “experts” don’t have such considerations already in their missed forecasts).
Still, we have one strategist (first story below) who is positive on the market overall but feels that, first, a drop (not too severe … but called “nasty”) is imminent. This is actually a common story … and has been one for as long as I can remember.
When asked for a market forecast, if you want to sound smart and cover your butt, please say the following: “I expect that overall stocks are the place to be although near term volatility can certainly be expected.”
You will be quoted and your expertise will not be in question. Keep in mind that if you give a forecast and provide a number of any sort … don’t provide an exact time for it to occur. And if you give a time period … by all means … don’t give a number. Careers are made on being vague and smart-sounding. I think I personally have the vague part down.
And I am a little upset this morning. I was with two friends last night who told me how excited they were that they made the move and bought an Apple Watch. Just what I (don’t) need … another device. So I was quite intrigued that when preparing my notes for today I came across an article (fifth one below) that claims we ought to give the Apple Watch another chance.
I have the uncomfortable – but glowing – feeling that, if this is as versatile as claimed, I will soon be an owner.
But will it soon sit in a drawer beside my Google Glass, upside down tomato plant grower, ice-cream maker ball and Gut-B-Gone? Maybe. But I just feel I have to have one.
Following the mantra of true early adopters everywhere, I certainly don’t want to be left behind.
Does anyone want to buy a rarely used (and obviously not working) Gut-B-Gone?
Have a wonderful day.
Joseph G. Witthohn, CFA
Emerald Asset Management
cell: (856) 625-7915
A Quick Look at the News
January 26, 2017
Joseph G. Witthohn, CFA | email@example.com
… as of 9:41 AM today …
Excited about the market breaking records? It might be a bit too soon … at least according to one strategist. He is bullish but feels we will be tested heavily in the near term (CNBC)
… but there is one way to make more money … and that is to ask (politely) for a raise. There is a certain art to this … although I’ve been told it is a matter of timing (Fortune)
Do you have an Amazon Echo? Many do (thanks to the Christmas rush) … but it is not as simple as just “talking to Alexa” … as there are little ways to improve your (and Alexa’s) experience together (Reviewed)
If you have joined the Virtual Reality craze, congratulations … you’re an early adopter. But some think your uniqueness will not last long and this might hit the mainstream any time now (Fortune)
… though some things just take a little time. If you recall the hype of the Apple Watch quickly fizzled … but now many are rediscovering this interesting device (Time)
Hmm … my fish tastes funny. Well, thanks to pollution (and the overabundance of plastic in our society) we might be ingesting a bit of plastic with every seafood bite (NYPost)
… and one item at many parties is … of course … Tostitos. But you might want to skip the service bowl and leave them in the bag? Why? One bag is designed to tell you if you’re too drunk to drive … interesting. Accurate though? I wouldn’t be my (or your) life on it (Fortune)