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  • Beware This Morning's Euphoria

    By Rev Shark
    RealMoney.com Contributor
    4/7/2006 9:28 AM EDT
     

    "When a man asks himself what is meant by action he proves that he isn't a man of action. Action is a lack of balance. In order to act you must be somewhat insane. A reasonably sensible man is satisfied with thinking."

    -- James A. Baldwin
      
     
    The market continues to act extremely well and the jobs report this morning is giving us another boost. It's a "Goldilocks" report -- not too hot, not too cool. We are trading up sharply on the news in the premarket. As this rally continues it becomes increasingly important to stay balanced. You don't want to be overly anticipatory and look for possible breakdowns around every corner but you also don't want to act blindly and let up on defense.

    To fully profit from a rally we not only have to act aggressively and make some buys, but we also have to make sure we take steps to ensure we don't give back the outsized profits we are earning. Back in 2000, lots of folks considered themselves to be investing geniuses because they made huge money when the Nasdaq went nuts. But it was the folks who maintained some balance in the face of euphoria that ultimately profited the most.

    There is no reason to be unduly bearish at this point. The market is trending up, semiconductors are leading and a lot of folks who have been doubting this market for months find themselves scrambling to participate on the up side. By all means the long side is the place to be. However, make sure you maintain some balance in your thinking. Don't buy into the notion that this market is going to go straight up endlessly -- we will eventually have a correction and it will be painful if you aren't ready for it.

  • Tänane tööjõuraport oli tugev ning tööpuuduse langust 4,7 protsendile ei oodatud. Üsna hirmutavad sündmused toimuvad võlakirjaturul, kus 10 aastase võlakirja tulusus on kerkinud 4,96 protsendile, mis viitab kartusele inflatsiooni ees ning intressimäärade tõstmise poliitika jätkumisele. SDollar seevastu on nii jeeni kui euro vastu kiirelt tugevust kogunud.

    Aktsiaturgudel seevastu võeti majanduse tugevust kajastav tööjõuraport vastu negatiivselt, ühelt poolt seda tugevust oodati, teiselt poolt kardetakse intressimäärade tõstmist.
  • Brifieng on toonud võlakirjaturu langusele lisaks veel ühe põhjenduse, nimelt võib Jaapani Keskpank alustada intressimäära tõstmist oodatust varem.

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