While everyone is busy trying to catch the next Alt-Coin gone wild.. this stock market continues to chop in a sideways fashion.
Not only is it boring... its terribly frustrating. We've had headlines smack the market down late in the session just as it seemed ready to rocket higher. Such as the capital gains tax headlines a few weeks ago.
There have been so many headlines the last 10+ years. All of them come across as negative at the time, the market sells off.. or as I like to put it... shakes the tree, and then days, weeks, or even months later its trading higher than it was when the headline came out.
It makes it tough at the time to hold onto something as the market rolls over. Downside can quickly damper a lot of your upside perspective. At the end of the day... when investors are selling, it doesn't matter how good your favorite stocks earnings were, the stock is going to fall.
The proverbial throwing the baby out with the bath water. I didn't make that one up. I'd imagine these days that might offend someone. I apologize in advance.
I look at the market right now, and I think the odds have increased for a meaningful pull back. The smack in the face. The tree shake. And guess what. Your favorite stock that just crushed earnings is going to pull back too. I'm sorry.
However those with a long term time horizon need not worry. I've said this many many times. Since the dawn of man stocks have gone up. Those selling during the internet bubble, and the financial crisis have missed out on the greatest bull market of our lifetimes.
I don't think its done yet. .. the upside that is...
However this most recent bout of boring market action has me thinking we are running out of gas short term.