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Daily Market Update – December 22, 2016 (7:30 AM) Was the week before Christmas….. We all know how the famous poem goes, but there’s not much stirring in these stock markets, either. That’s how the view is this morning, as well, although we are awaiting a GDP report before the open. Unless the results are very, very unexpected, there’s probably not too much reason to expect that stocks will do anything but what they’ve been doing all week. That is, nothing. That’s fine by be, as I think I’ve made pretty much all of the trades that I need to make, other than for some of those personal DOH trades that I hope to be doing a lot more of in 2017. If you have the time and the stomach lining to deal with those, they can really be a great example of making lemonade out of lemons, as long as you also have the stocks in sufficient quantity to really make it worthwhile. The bad news, of course, is that I have those big losers in big enough positions to make it worthwhile. But when I look at the income stream that they can generate if not minding the hyper-focus and Rolaids necessary, they are the equivalent of a well paying job. These days, that’s appealing in and of itself and I do believe that 2017 will really be a year of commodity prices, as we look at infrastructure program initiatives in the US and maybe some awakening in China. Of course, with that may come the fear that will eventually return as we start thinking about multiple interest rate increases, but that’s an issue for another day. I expect to be doing little today and am looking forward to a couple of holiday shortened trading weeks as I also count my time down. |
