Despite the ECB's effort to reduce interest rate and implementing a negative deposit rate for banks, DOW only went up a bit more than 100 points, then with a pretty good job report, DOW could only rise another 69 points. S&P is still some distances away from the predicted 2000. This has become a very weak and anemic market, getting closer to the middle of June, it would take only a few bad news to tank it, IMHO. Call me dumb, I added more DXD today. My longs went up so much, they countered my losses on DXD and when the market tanks, my DXD hopefully will give me some cushions. Going to be either a very dull or exciting month.
Tip for today:
EDF - a EM fund really rocks lately. Worth taking a look. Still have a 10.4% yield, trading just around NAV.
Well, if this is a weak market then I want more weak markets. What happened to sell in May go away. My accounts keep making new highs everyday and some stocks are really taking off. My SAN was up 2% yesterday and again 2% today. My only wish is that I had put that 25% cash to work. Its tempting to sell off some stocks but going to let them ride.
Quite a few experts are now advising to go long EU banks given the ECB policies in place and projected policies for the near future. I'm still wary myself, but most likely I'm just a chicken little. Central banks have a lockdown on the global stock markets and it is just pure levitation baby. I may have to start getting a tad more aggressive with my cash pile here. I'm looking at buying into the EFV, a European value fund. Value being relative of course, LOL.