Well, yesterday’s market rebound from recent losses impressed me, as it did many others, but the closing was absolutely breathtaking. Yesterday’s finish surprised me in its strength and the message sent was the bulls were never out the game, that they were just waiting for the moment to capitalize on the bears insistence. Yesterday was the moment.
Today’s market action pushes this thesis further. The bears have an opportunity to capitalize on the sudden rush back toward recent record highs, as one would suspect some massive profit taking would now occur. After all, we are closing out 2014 and yesterday’s rampage uphill presented a perfect opportunity for those who have been buying the dips to make their profit picture look prettier for this year.
Yet, here we are. Early selling has given way to a powerful move into the green. The bulls are showing no sign of backing down from their statement yesterday – “Enough is enough! We are looking to the future.”
- IBM aims to expand the number of data centers it offers clients around the world by 25 percent to meet fast-rising demand for internet-based services, after what a company executive said has been a “breakthrough year” in 2014 for its cloud computing business.
And off we go. The US economic transformation is moving forward and, soon, the global economy outside of the US will catch up, and when it all comes together, say, somewhere in 2015, the market is going to, well, react appropriately.
- Someday your smartphone might be able to help you in a new way when you’re traveling: by telling you whether the water is safe to drink.
Last year, I wrote about a stalwart icon of the old stock market, an icon of everlasting stability. Unfortunately, Corning (GLW) did not keep up with the beginnings of the technological revolution back in the day. It began to fall on hard times and its stock dropped.
Well, the company began to get on board with LED lights and other such modern conveniences relative to smart phone screens and the like. Today, the beaten down stock is up over $20 again, and with its prestigious research arm, it is opening up new avenues of future revenue.
- Although a water app isn’t close yet, researchers at Corning (GLW) and elsewhere recently discovered that they could use Gorilla Glass, the toughened glass made by Corning that’s commonly used on smartphone screens, to make extremely sensitive chemical and biological sensors. It could detect, say, traces of sarin gas in the air or specific pathogens in water.
My point is, day in and day out, the market has relevance, for sure, but, day in and day out, those who continually predict the short-term demise of the market have no relevance. The market will do what it does day in and day for myriad reasons running from geopolitics to fear mongering in the breathless media. If you are listening to these folks and trying to time the market accordingly, well, all I say is, “Good luck.” Short term and long term, the market ultimately tracks the fundamentals, so stick with those and you have a greater chance to succeed in this game.
… after nearly two decades in this business, I can tell you with plenty of certainty that none of the usual talking heads on TV really knows how things are going to pan out through the end of the year. They like to think and act like they know, but trust me – everybody’s guessing at this point.
And with that I depart for today. Wait! What about GLW? Watch it and buy it, if you think, as I do, an icon of the past is transforming (with the global economy) into a power of today.
Trade in the day; invest in your life …
