The market continued its inexorable advance while I was away in Ocean City, New Jersey, one of the finest resorts I have even been privileged to be in. A reason for its harmony is the absence of alcohol. I have been reading Master and Commander again, and find many fantastic insights in it–Nelson always said that since you were always five minutes and a few pieces of wood away from a terrible disaster, you had to be eternally vigilant. What will the employment figures look like tomorrow. There will not be as much pressure on the employees to adjust them upward one would think with the favorable supreme court ruling to them. 





Speak your mind

4 Comments so far

  1. Andre Wallin on July 7, 2012 5:27 pm

    Do any speculators on dailyspeculations do vipassana meditation?

  2. douglas roberts dimick on July 8, 2012 1:18 am

    Do Numbers Mean What They Did?

    This year, the story reads…

    “NYSE Euronext : Program Trading Averaged 46.0 Percent of NYSE Volume during June 18-22”


    Last year…

    “Program trading is in again. Its volumes have been rising. Its technology is becoming more sophisticated. And the buyside is warming to its capabilities, so much so that program trading now represents roughly 15 percent of U.S. equities volume. This is a jump of 50 percent in just one year, according to a recent industry study.”


    Your quip would echo this valuative decoupling as “stocks should be 10 times higher than they are now, because they are comparably volatile to bonds, and yield 10% return on equity + growth of 5% versus 2% on bonds…”


    Does it not appear that fundamentals diminish in importance relative to technical analysis as program trading systems gain dominance of daily market activities?

    If so, does not this phenomenon present direct evidence against random walk?


  3. john Donaldson on July 8, 2012 9:58 am

    Hi Vic

    we were thinking of a trip to OC, may I ask where you stayed ?

  4. vic on July 12, 2012 7:10 am

    i stayed at a rental near the beach on second street. the whole scene at ocean city was great for kids, and completely harmonious. highly recommended. vic


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