     If so, I’m not sure we can fill it up anymore for a while. CNN/Money ran an article titled The Party’s Over on Wall Street today… From much of the news it seems like momentum in the market has faded.  As they report, we’ll still see earning reports for companies such as Google, Bank of America and Microsoft this week, but with the subprime concerns and the dog days of summer settling in (it’s hot out there!), I wouldn’t be surprised to see some heavy volatility to the down side. Not a bad time to lock in some profits either for a trader or someone uncomfortable sitting in the market. The charts tell the story pretty well.
But how many people are asking if the Bull market can continue? I’m not asking, and would rather stay defensive at this point even if it does. I haven’t been around that long, but long enough to know when a market advances this fast in this short a time, that it usually enters a period of consolidation at some point… and/or is tripped up by larger economic issues, etc. Probably a combination of many things, but suffice it to say I’m positioned to the balanced side overall, with dividend payers as my core holdings in stocks and funds. I’ve freed up some cash over the last week and will reassess some entry points on long term positions over the next few months. Otherwise, it’s watch, wait and keep on saving and investing. The rest of the summer should be interesting.
MSNBC showed this graphic with their lead story on the DOW yesterday, but the link is now gone. Pretty amazing for a view of the past.
Chart Copyright MSNBC and DOW Jones - 7/17/2007
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THAT is a beautiful chart huh?
Thanks for putting it up!
It is cool! I think it’s my favorite over the past few years.