The first post-summer Friday is here. Ms. Market had a fine week, dancing an optimistic, elegant waltz of ever higher prices. Europe is up this AM. The underlying bid to stock prices recurs on each bear raid ... so far. They'll try again, no doubt.
From my "Memorable Quotes" file:
The Emperor – Return of the Jedi: “Everything is proceeding as I have foreseen.”
Hannibal Hayes – The A Team: “I just love it when a plan comes together”
The call option play is working, as some of its staid stocks like PG made strong moves up. To reiterate the fundamental theory, in my opinion the rest of the world's economies are stronger and growing quite well now. The US is lagging due to the poor structure of Obama's stimulus plan. The dollar thus falls as demand for it is lower than for other world currencies. Companies with substantial overseas revenues will outperform and eventually beat earnings forecasts and raise 2010 estimates. Hence, the stock selections for the call option speculation include such companies as best I could determine.
Eventually I'll have to trade around these positions, but for now, I'll sit on this bull elephant and ride to the next waterhole.
Word of the Day
"Dulcify" - verb, transitive
Dulcify means 1. to make sweet; 2. to make agreeable: mollify.
Sentence: Obama's speech changed nothing in the factual content of the health bill; all he did was spread some rhetorical sugar onto it to dulcify its sour contents.