Unched is trader’s talk for unchanged. Which is what the Dow was. Oh, OK, it was up by 4 points. However, NASDAQ, led by tech, names was up 1%.
Both the bulls and the bears will try to own this. Each side will give it their particular twist.
Really have no academic feel for this but my bias is down. Too many Dow names were down today. Big losers were McDonald’s, Alcoa and GE. Without these you cannot start a rally.
This was certainly not the hoped for continuance of yesterday and I remain cautious.
As I bicycled back from picking up the mail I stopped where six small children were selling lemonade, along the road. I asked how it was going. Three of them piped up that they had collected $14. And the beautiful seven year old, red haired beauty said that some of their clients gave them two or three dollars. So, how much is it for a glass? One dollar!
As I left these gorgeous children I passed a well drilling rig that was furiously at work drilling. I knew this company so walked over. Is this well for the golf course or the near-by house? Oh, for the house. They spent $600 on city water for the last three months. How much for the well? $16 a foot and figure on 180 feet. Plus fittings, a pump and connection. Over $3000. Pretty long pay back. The drillers told me, over the noise of the drill, that they had been in our community for three weeks. It takes about two days to complete a well. Everyone, it seems, is trying to get off city water. Sign of the times?
Am out tomorrow morning for a hopefully routine physical and some more tutoring. Be back by noon.
