Thursday, October 25, 2012

Floating Along

Well, the past couple of weeks has seen a pretty dramatic fall for some stocks.

Personally I am waiting until after the election here in the U.S. to buy much more. Past experience tells me that stocks will continue to drift until we know who wins.

Generally there is a little bounce as we learn the result and another dip towards Thanksgiving week. I will buy that dip.

Wall Street loves a long vacation weekend and stocks rise as brokers look forward to a break.  Cautious buying should be the rule. I get defensive myself, stocks like Consolidated Edison (ED) and Walmart (WMT) , both of which I own , attract me for short term holdings as well as long term holdings.

Following the Thanksgiving break we could see a dip as wall street catches up with other markets if they drop over the long weekend, but after that I see a steady rise towards the Christmas "Bonus" season.

Call me a cynic but who would not want a nice holiday bonus from a nice rise in the markets?

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