Markets are creeping higher to end the week. I, as well as others, have money to put to work but fear jumping in at the wrong time. I just read “Diary of a Hedgehog” which greatly opened my eyes to the fact that other big fund managers are still licking their wounds from the crash and fear getting scarred again as well. But people, you can’t have cheap stocks and good news at the same time. That would be be too easy. This looks like the time on any decent pullback to get in. The question is: have we appeased the trading Gods yet by sacrificing enough portfolios. We will find out soon as this market is coiled like a spring.
We are excited about Morgan Stanley’s upbeat report. Expensive to buy more here. Wait for bad news out of Congress to give us the opportunity.