- I mentioned CIDM more than enough on Twitter today so I won't go into it again. All of my thoughts both young and old are chronicled in a relentlessly organized fashion in my monthly reports that I have been publishing regularly for sometime now.
- The markets are functioning just as they should and just according to schedule. The strength we are seeing now should continue into the end of November.
- There will always be far too many investors who attempt to get cute in bull markets. By cute I don't mean walking around with a bowl of fruit on their heads while juggling rabbits. What I do mean is that investors make a regular habit of outsmarting themselves needlessly. It is a frivolous pursuit and has a negative expected value over the long-term. The job of an investor in a bull market is to sit tight, holding onto their positions as if they are the last remnants of hope for all of mankind entrusted to you for safekeeping. That is all there is to it. The rest is a bouquet of fresh garbage.
- The popular technicians have a song and dance that they play for themselves that while amusing, doesn't provide much in the way of profits for those who follow their advice. Popular technical parlance saw the recent move into November as being exhaustive, with several signs of lagging momentum, breadth and various other technical indicators of the coin-flip variety. Those who perform technical analysis without trajectory points as their foundation are similar to quarterback who is playing on field without any hash marks, goal posts or first down markers. The quarterback will have no idea where he is in relation to where he was. That is what most technicians are doing in their analysis. Lost in a sea of inescapable mediocrity.
- As far as the length of time this rally continues, I attempted to answer that question during this past weekend's review. For those who don't feel like clicking on the link, the Cliff Notes version is that we don't see a substantial pullback until mid-year 2014. Until then it will be either up or sideways, much like we have experienced this year.
That is all I have tonight.
