Cyber Monday is not for me
It’s only a couple hours into the trading day but the markets are up over 3% and some near 4%, wiping out more than half of last week’s losses (its early and who knows where we will be at 4:00). Long-term investors need to take notice that trying to time the markets is a losing proposition. Over time, investors who stayed the course have profited compared to those that feel they can outsmart the markets. Today’s enthusiasm originates from the fact that maybe, just maybe, Europe will take care of its mess and shoppers who spent an ungodly amount of money since Thanksgiving. This can be because they feel the deals won’t get any better, but from my perch, I don’t see how the consumer is feeling that good about themselves where they are going to spend spend spend all the way till Christmas……..not with unemployment at 9% and an economy that is looking for any sign of life that it is getting better.
Now for Cyber Monday….Imagine being able to only shop at Wal-Mart or eat in an Olive Garden…for most folks this is not appealing. I know consumers get excited about Black Friday (or was it Thursday this year) and Cyber Monday, but by being part of this hype, we are actually hurting the independently owned businesses who try really hard to “Make My Day” (thank you Clint Eastwood for a great quote) every day. Picture not being able to drive thru a local town or plaza filled with festively decorated storefronts or streetscapes; getting a good cup of coffee at the local roaster with an unique ambiance or worse yet, having to eat canned food recipes from a chain restaurant rather than from your much loved chef……at the end of the day you may (or may not) save a few pennies, but surely your overall quality of life will diminish because the small Mom & Pop businesses who are diligently trying to make a living and add to the local community can’t compete any longer. SO JUST SAY NOT TO CYBER MONDAY and after work, take a trip to that retailer who will make the time and help you or stop and get a home cooed meal……your employer will be happy that you are working today and not shopping online and you will feel better that you helped keep the neighborhood alive and well.
The markets were up well before the announcement that Barney Frank won’t seek reelection in 2012, but I’d still like to say thank you Barney for calling it a day. Your infamous quote “I want to roll the dice a little bit more in this situation towards subsidized Housing” September 25, 2003 (see link below) and the fact that most of your cronies were able to grab cushy jobs at Fannie Mae and Freddie Mac for all those years, and let’s not forget the Dodd-Frank Wall Street Reform and Consumer Protection Act…..all of this pretty much sums up how our economy is doing today. Although we will miss your sense of humor.
http://online.wsj.com/article/SB122290574391296381.html
IMPORTANT DISCLOSURE INFORMATION
Please remember that past performance is no guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Bouchey Financial Group, Ltd. [“Bouchey Financial”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, no portion of this discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Bouchey Financial. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Neither Bouchey Financial’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if Bouchey Financial is engaged, or continues to be engaged, to provide investment advisory services. Bouchey Financial is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Bouchey Financial’s current written disclosure Brochure and Form CRS discussing our advisory services and fees is available for review upon request or at www.bouchey.com. Please Note: Bouchey Financial does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Bouchey Financial’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. Please Remember: If you are a Bouchey Financial client, please contact Bouchey Financial, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently. Please Also Remember to advise us if you have not been receiving account statements (at least quarterly) from the account custodian.