The Day Ahead: Trust No One
Through the years, I have opted to tweak the famous adage "trust no one" by choosing to be a little more trustworthy. When I have tried that, however, it has often led to being mentally smacked around in a business relationship or stock market calls. Put too much faith in a person, and they may grab a yard instead of an inch and seek to spoil your hard work. Rationalize that a CEO is telling the truth after a 10% decline in the stock price related to an earnings bomb that a "profit margin trough has formed" and likely, you will be let down in between earnings reports and when the next quarterly is released.
Today, I want to step back into a personal time machine and provide reasons to place no trust in a Monday, start-of-a-quarter stock rally that lost steam and creepily felt as if it was weakening around noon. It was comparable to last Thursday's action in many instances (defensives still caught bids, such as staples and utilities; perceived safe-haven Treasury debt were en vogue at Fed friendly paltry yields)....569 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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