I'm back from the heartland. I thought that traffic was a bit lighter than normal in Connecticut, but I did get on the road up earlier than usual [5AM] so hit CT a bit earlier, too. But there were quite a few trucks on the highway.
McDonald's got plenty of business - whatever some say, I think they make good quality, tasty food. My dog, Spikie, likes it, too. She had a classic grilled chicken sandwich, no mayo, for lunch. Spikie loves McDonald's food!
I see Ms. Market continues to take good care of the long term investor. Sometimes tortoise-style investing does quite well. Simply holding long if conditions are good means one gets a piece of the action on these periodic one day moves in a long stairstep move up.
Yesterday's move confirmed the break up. Sayonnara double top bear! A few weeks ago I observed the inverse H&S bottom pointed to at least S&P 1600 cash. The weekly upper uptrend line points to 1700. That was my "target" for the year. Whether we get there this year or in 2008 will depend on news and events to come. But the economic trajectory is good and investment conditions are in the sweet spot.
It's a bull market. Buy dips in strong stocks & groups. Hold until something changes.
PS: I started a position in BNI, the train stock that has routes in the northwest. I like the chart, Warren Buffet position and that they should move a lot of lumber next year if/when housing industry turns up. The stock is about 85 at 14x 2008 earnings. I think it can hit 120 as the economy re-accelerates late next year. The monthly chart shows a good, long base.