My observation is that it seems like the markets are directionless. It will be bouncing +-500 points on every news of credit crunch, credit ok, gas crunch, gas etc.
Some of the stocks are all over the place. In Oct/Nov. Retail for example is extremely volatile these days. One stock that I move in and out of, Gymboree, was swinging all over the map. It started out around $34…Then all the bad news came out at retail, it went as low as $28..Then same stores numbers came out which were fine, and it's back to $34ish. There's no direction. The only thing I've been trying to do is move in and out of certain things on the volatility.
Like gymboree…20 trades this year and counting….
But for every one that I'm up at an instance in time, there a corresponding one that's down. Tech for example was hammered last week. Oh well, I still think we have and overreaction in the markets, but my opinions don't really count. We'll see what happens next week. I'm not foolish enough to say that the markets going to hit all time highs or come crashing down.
