This market can not be sustained. It reminds me of 2009. I am getting a bad feeling that this is like a game of Jenga and someone is getting ready to pull the wrong block from the bottom. The market has gone up too far too fast.
I have my sell orders in for everything I own. If they hit, I am out. I would rather spend the rest of my retirement reading books and having fun with my grand-kids as opposed to getting ulcers worrying about how a bunch of crooks are manipulating my money.
As for Office Depot: You could give them 100 million dollars, two employees, and only one store, and they would still report a loss of 75 million dollars.
I advised my friends to move their money to safer investments a few weeks ago. One did, and he has made a few hundred bucks since the move. If he had left it as it was, he would be down several thousand by now.
I can't understand the buy, buy, buy, mentality of people who invest. Folks, if it starts getting near ,or over, an all time high, it is time to get out and let things cool off. History seems to have taught us nothing.
As for Office Depot: My sell order is still in. I HOPE it gets to it before the end of the year WHEN the merger goes through. If the merger doesn't happen, I am screwed. I let two opportunities pass me by over the years, and I am still kicking myself in the butt for doing that.
This could be an awesome company IF the current management is given the boot after the merger. I would wager that it could see $15 or more down the road. I will be watching that from the sidelines though as my sell order is way less than that. I just need my money back in my bank account.
If I had any money to spare, I would be buying right now. The time to buy is when others are panicking, and it looks like people are starting to panic.