Investing is Like a Box of Chocolates

Eight Week Winning Streak Over – Time to Sell?

David B. Armstrong, CFA Weekly Market Commentary

The Dow and the S&P 500 both broke eight-week winning streaks. It has been an impressive run-up in prices, but not without precedent. Everyone remember 2013? Well in case not, we had a nice strong bull market in 2013. No two periods are exactly alike, I get that, but comparing key metrics and some of today’s concerns with 2013 offers …

A Recession Is

Recovery, Accumulation, Boom and Finally Distribution.

David B. Armstrong, CFA Weekly Market Commentary

I think we are somewhere between Enthusiasm and Greed.  Since I had someone ask about investing in Bitcoin, maybe closer to greed. How do you know?  Well that’s a “Million Dollar Question.”  Barron’s had a great cover page article of some thoughts, but you have to have a subscription to read it…so the graphic I copied below shows some of …

It's not a bubble

Why This Market is Not a Bubble

David B. Armstrong, CFA Weekly Market Commentary

Last week’s trading was pretty volatile. One needs to look no further than Thursday’s broad sell-off followed by Friday’s rebound which left the major domestic indexes slightly higher for the week. On the economic front, the ISM Manufacturing and Services data came in very strong last month (more later). The June jobs report indicated economic strength with nonfarm payrolls climbing …


Quick Thoughts on DOW 20,000

David B. Armstrong, CFA Weekly Market Commentary

Dow 20,000 is the talk of the town. There is no escaping it. As I write this (Wednesday at 10:36 am), the index is a mere 0.60% away. But a question being asked, explicitly and implicitly, is this: “Do the current valuation levels (specifically P/E Ratios) signal a market top?” My opinion? Not by themselves. Research from LPL Financial and …