North Korea continues to fire off bottle rockets as they flip us the bird, the Case-Shiller home price index will be out at 10am and consumer confidence will also be reported. Iran has sent six warships into international waters in a effort to flex their military biceps.
Earnings are pretty much wrapped up and now we have to rely on other positive data points for a continuation of the rally. I won’t be standing on one foot waiting for that.
Commercial real estate is still “hanging around” and it’s eerily reminiscent of the action I saw in the materials/ agriculture space last year. You know, when POT was $250 and analysts were increasing targets to $350-400, kinda, sorta before it dropped to $50. Very crowded, everyone afraid to be the first to blink, ten clowns in a phone booth kind of stuff.
So what is next? L-shapes, V shapes, double dip recession, jobless recovery….? Let not the moss gather under your wingtips. Trade it.