Daily Market Update – December 12, 2016 (Close)
Last week the Trump Rally was in full steam.
This week we do have an FOMC Statement release and a Chairman’s press conference, but there is no reason to believe that anything will change.
At least not as far as the rush to buy stocks.
Suddenly, it seems that the business of America is again business and everyone seems to like that.
Once other issues come into play, like actually running the country within the context of a very complex world, we will find out how the overlay of international events may impact upon our focus on business for business sake and a nation run by billionaires.
For now, I continue to enjoy the idea of just going along for the ride.
TOday the ride turned out not to be all that extreme.
I have more cash set aside this week than has been the case in a long, long time and may be able to add onto the cash reserve this week as the monthly option cycle comes to its end.
I like that idea, even as markets are heading higher.
At this point, I don’t mind having cash around to pick up some bargains that may be in our future.
With money to spend, I’d rather be making my new money on shares that may become newly volatile and have both a chance for capital appreciation and enhanced premiums.
WIth the FOMC Statement release this week and the Chairman’s pres conference, I still might be interested in spending some money and I did.
However, with a couple of ex-dividend positions, maybe some opportunity for rollovers and then assignments, there isn’t that much of a compelling reason to spend much more than was the case today.
That one position was more on the speculative side.
Much more, but I hope to be able to serially play this one out, as I have some hopes that it may be the next Marathon Oil.