Market rolling over after an ebullient opening. Could not help selling into that and am glad I did.
We have absorbed a lot of good news and ignored the bad. That is reflected in a sharply higher market over the last seven sessions. Traders who have been burned in January/February by thinking positions could be ignored, are taking quick profits.
I have hedged positions by buying SRS, the inverse real estate ETF.
The S&P got up to 797; the 800 barrier remains stubborn.
Sidebar
Did you notice that Pfizer sold $13.5 billion in bonds on Tuesday? The demand totalled about $28 billion. Hasn’t done much for the stock, however.
Are you negotiating for goods and services? Last month my subscription to XM Radio expired and was automatically renewed. When I saw a charge of $18.95 on my card for only one month of service, I called them. Told them I was not paying that for one month. Certainly, Sir, said a nice woman. We can credit you with that and put you on last year’s plan of $129. Ask for discounts, you’ll get them.
Today we had our carpets cleaned by Stanley Steemer. They do a good job. When we settled up Don said they had just started a new pricing. So, instead of $189 we paid him $139.
