Daily Market Update – December 7, 2016 (9:30 AM)
The DJIA sits again at a new high as we get set to begin this morning and the S&P 500 is within easy striking distance.
Once again, this morning looks as if it may take a break, even as the world’s markets are advancing.
The real question remains how markets are going to react when the FOMC finally comes to a decision.
With the recent run up in stock prices is this the time to take profits or is this time to catapult to even greater highs?
There’s plenty of past history to support either of those paths, so it may be an eventful couple of weeks as we await what most everyone believes will be affirmation of the certainty of a tax increase.
As I look at the performance of my portfolio on the year, I’m just happy to see it keep doing what it has been doing.
That’s especially true when you think that for a portfolio that still has energy and commodity positions, there may be more good things to come as the economy heats up.
Patience may really have its virtues, especially when there aren’t very many predictable alternatives if you elect to be impatient.
The relative performance of markets have punished those who’ve decided to sell losers, such as energy and commodities and invest their money elsewhere.
The likelihood is that your idea of elsewhere hasn’t been quite the performer that you had been hoping to find as a replacement for your losers that you had dumped.
With the exception of those that go the bankruptcy route, almost everything else lives in some kind of cyclical pattern, if you can live long enough to see that big picture complete itself.
At this point, I just want to make it to 2017.