Greetings and happy and healthy new year.
I really do not have many grand words about 2013 as I dont see a lot of changes…just that we are going to continue to have to deal with market interference, market manipulation and a whole lot of noise out of Washington as it makes life tougher in the market. I am going to take a big pass today on this fiscal stiff scam but just to say the expectation was a pop on the news it would get done. As of this second, the Senate has passed the joke…now waiting on the house…but then soon after, another debt ceiling scam. Yippee yeah yeah. In spite or despite this nausea, the job is to just watch and interpret the tape. It is much tougher as we have seen time and time again a tape that wants to go one way only to be turned on government news. Let’s hope that changes.
The past few months for the growth stock operator has been for sitting…as not much has occurred. Corrections and rallies and corrections and rallies. As we enter the new year, seeing good charts in the midcaps,the fxi,eem,efa and potential good bottoms in a lot of commodity areas like the xle,kol,slx as a better China market helps.
I am going to wait for tomorrow’s pre market to potentially do anything because we are still waiting on the house. If they vote the scam down, it will affect things. I will have further comments down the road on the tax increases as this is just the beginning.
Looking at names like CRM,RAX,EBAY,EXPE,RAX,MA,V,EQIX,COST, and a couple HOSUING names like PHM,RYL.
And I repeat, until I really see significant strength, expect a difficult environment.