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Confusing Love and Pride

03/23/2016

It is easy to love my country . . . warts and all.  It always remains a land of great beauty, great opportunity, and mostly great people.

It is NOT easy to love the stock market.  A perennial heart-breaker, it is wildly unpredictable.  But, sometimes I do love it anyway . . .  I think.  This heart-of-capitalism sometimes behaves in a classical, predictable way.  Like right now, the market is slowly churning within a relatively narrow range.  Following a bullish run, this churning or period of consolidation usually predicts another bullish run.

In addition, the stock market did NOT over-react to yesterday’s terrorist attack.  The Dow only lost 42 points.  Maybe, such attacks have now become routine and are already factored into the market level.  Maybe, the Dow would have been up 60 points if there had been no attack, suggesting only a 100 point drop due to the attack.  Either way, it’s reasonable.

Like the dog that did not bark, it is remarkable that the stock market did NOT over-react.

Maybe, I don’t really love the heartless stock market . . . but I am proud of it right now!

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