Tracking more than the market
Today I have the fortunate opportunity to have my two little men (Mike and Tim) at the office with me. I just asked them which direction the market is going to go and both immediately said "UP." As Toddo would say wasabi?! I tell ya, I don't know where they get it, must have been this morning's charts.
For those of you that celebrate Christmas with little ones, I am going to give you a wonderful present. www.noradsanta.com It is a video of how norad tracks santa by radar throughout the day and shows him flying over different cities throughout the world. It makes it especially wonderful because when Santa is spotted near where you live, it says "the children better go to bed." Makes the night easier ;-)
Very briefly from a market note on such an eventful day outside the markets, was Durable Goods another data point of perceived negative news that didn't hurt the market. It shouldn't be a huge surprise that an economic number was weak because the Fed didn't cut by a greater than expected 50 basis points because the numbers were about to show strength. They cut because there were signs of weakness. If you are buying from an investment standpoint with valuations this high, you are betting on a much better economic environment in the second half of next year - not right now.
Again, thanks for reading today and if you have any comments or suggestions please email me at firstname.lastname@example.org
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