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Market Update May 20, 2011
Posted on | May 20, 2011 | Comments Off on Market Update May 20, 2011
The broad markets continue to be somewhat range bound with medium advances in both the higher direction and the lower direction. Big headlines recently include the IPO of the first large social media company in Linked In (LNKD) which was a high flier upon its debut. Additionally, companies like Gap Stores (GPS) reported tough earnings and a weak outlook due to the stagflationary environment which equals lower consumer spending and higher input costs. No surprise here for those of us that have been calling for stagflation for some time.
The play here is to continue to be patient, waiting to see how the end of QE2 shakes out in the markets, and sticking to our strategy of reinvesting dividends and waiting for lower prices for bulk purchases. Nothing has changed.