Little more negative. I really do. Think about it. Weve run so far, so fast, so much right now. And yet we dont have any new data points of consequence. Were simply paying more and more for the same exact insights. But it doesnt seem to matter, as we strike towards another set of new highs. Dow gaining 40 points. S p advancing 0. 51 . Nasdaq climbing 0. 671 . Not trying to be a naysayer, but pessimism has back the enemy of profits. Negativity isnt being rewarded at all, except in a narrow handful of situations like the funk in social media, the endless pain in autos, or the relentless decline in the mineral stocks and offshore oil drillers. Frankly, its downright amazing how giddy this market can be. And in doing so, its punishing even what i regard as healthy skepticism. So why dont i give you concrete examples of what im talking about. Examples of even questioning what we call longside opportunity and how that has become toxic. Yes. It has become deathdefying. This morning on squawk
Cyber monday sales were. U. S. Markets said to keep chugging higher as russia warns of a possible slide into recession. First up, apple in focus after the stock fell more than 3 yesterday. Raising their price targets on apple. One says this could be the top of the iphone growth cycle. They are relatively cautious here. We have blown through some targets. Kaiu has a sector perform. That is a guy i frankly dont listen to. I listen to people who liked it and are calling tops because a guy who has fought it doesnt have as much credibility. Im looking at the canacord note. Expecting the 200 million iphones, the merrill note. Pacific crest wants to trade apple. I believe trading apple is a suckers game. They were skeptical going into the launch of the 6. If they didnt have something mindblowing, he probably would down grade them. Didnt do it till now and missed a run. Ive got to tell you, there is talk of multiple praction. The multiple here is 14 times earnings. Ive got stocks selling at 1
In this market you have to top fish. Thats the name of the game as it was once more today with the dow gaining and s p climbing and the nasdaq. I know the idea of chasing winners can be upsetting. Unfortunately, 2014 it has been all about angling from the 52week high list. And it wont stop now with just 20 fishing days until the end of the year. This hasnt always been the case. I have seen years where the cheapest rock bottoms needed to be bought. I have seen stocks get bit or activists but not in 2014. I was reminded of this fact this very morning when valet, the brazilian mining conglomerate rang the opening bell. There i was in pie position facing the nightmare of the worst stock that my Charitable Trust has bought in years. It has the highest grade iron in the world with the lowest cost of production. Right now the major Iron Ore Companies seem to be in a suicide pack to overproduce. No one has blinked. The consequences are dire and iron ore seems to hit new lows pretty much every
Hoka One One running shoes are helping to drive record sales for Deckers Brands (courtesy photo) Deckers shares are leaving the competition behind, with the stock gaining nearly 20% since its earnings announcement on May 23, pushing shares past $1,000 for the first time in the company's history. As of close on May 28, shares