Fed comments add gasoline to a hot market. The strength is quite amazing and surprising to me. I am hard pressed to find minus signs, either in groups or in individual stocks. Bonds, gold and stocks are all higher. If I came in short any of these, I would definitely be covering because the pain would be too great.
As is, I have some hedged longs, and would like to add more. It is difficult to find anything that hasn't already moved. AMLN, BA, BRK and MER are the most tempting. RIMM reports earnings after the close. I don't think I want to roll the dice on this one.
I remind myself that there is always another day, another opportunity. Jumping into a fast market can be quite exciting. However if a person is on the sidelines, it more often times than not pays to wait for calmer waters and clearer opportunities.
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