Nice Bounce


Who knows where this thing goes from here. I’ve been a voyeur the last couple of weeks. Maybe we’ve morphed from the “new bubble”  market back to the 1970′ in the last two months.  You know, back to basics, just buy old fart stocks, catch a shitty dividend and just take long walks on the beach and work on your short game.

If one more person tells me $VZ looks good I’ll stab them with a shrimp fork.  I’m not in the market to buy $VZ, $T or $MCD. I’d rather take long walks on the beach and stay cash.

Stocks that are down 50-60% rallied 4-6% today. I speak of stocks on the dreaded Nasdaq. Booyah. Unless something changed since last week, most still have nada in the way of earnings, something that was forgiven in the recent past. Now it matters. They were drastically oversold.

Don’t get me wrong, I care nary a wit about earnings when the momo is flowing.  Market players went from stepping on each other’s necks to buy $YELP, to carefully bidding for Altria and Proctor and Gamble. Extremes.

There is still growth in companies with earnings that don’t have symbols like $WDAY $VEEV $FEYE or $DATA

Find those.

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