While many think the world of investing as huge, high-tech computers churning fancy algorithms and placing ultra fast, millisecond trades –
Some of that is true, but behind each fancy machine is a human, who can throttle down the machine or even turn it off – yes – it happens more than many know.
With a human behind the scenes, and many folks being on vacation or “out-of-the office”, summer markets frequently have the majority of their movement in the first few minutes to an hour of trading.
Markets jump at the open, then flat line the rest of the day – not always of course, but VERY frequently – summer doldrums.
This is what leads to the up day, followed immediately, frequently, by a big down day – basically going no where, but seemingly a rocky ride.
Not to worry, earnings are good and day by day, as we travel our Road to Seemingly No Where – valuations are getting cheaper!
While not on the 10 best engineered project, this was a first time visit for two of the family members – it was a national tennis tournament, luckily with great results (six wins out of nine matches) – this was an easy one to guess? – Ok, we did not announce this trip due to the back-log of posts we wanted to get out to you – apologies, we will not leave you hanging very often!
The temp went over 100 degrees – breaking all kinds of records for this area way up north! Go Figure!
Have a Great Weekend and enjoy your Friday!
John A. Kvale CFA, CFP