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Whose your daddy?!



The last two weeks have been some experience. There was an important breakdown, breakout, oversold, overdone and I am cooked.

We have a big week next week given what happened this week and we will have the all-important Employment report and more. I continue to believe that the tape is in the twilight zone where there is conflicting news stories, market signals (ie, near-term oversold, intermediate-term overbought) and fundamental views - all of which can happen without proving (or not proving) the bull or bear case. The only thing we know in the twilight zone is that it ends and the reality trade begins.

That third leg (perception, twilight zone, reality) of the trade can be either good or bad. In this case, given the intermediate-term signals, valuation levels, fundamental backdrop and geo-political environment, it is hard to argue that stocks should explode to the upside.

Then again, crazier things have happened over the years - right now, it is just difficult to imagine. One thing is for sure, it will be great to have a fresh Toddo back to give us his perspective.

Have a great weekend and all the best.

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Yeah right...I missed Todd because he had Daisy with him.
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