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Market Musings™
The market continues to show signs of fatigue and with a record
federal tax bill to be disclosed by the Democratic Administration
on Wednesday, the expectations for future earnings will be sharply
curtailed.
If passed, look for the averages to break sharply to the downside
and the P/E ratio to also fall back to a more normal level.
The pandemic lockdowns are now simply political and not scientific
as vaccination rates push the risks lower.
The real problem is at the southern border with illegal immigrants
and the disparity in benefits they receive as opposed to the legal poor.
Remember -- "Only purchasing power that counts!"
Setting definitive action points for held positions will be key to
retaining profits in this market.
It is difficult to find long-term trading opportunities with the
future so uncertain.
By any reasonable measure, this market is dangerous.
Be careful .... |
