Powder Blue Report

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Sunday, March 04, 2007

So How Was Your Week???

To all of you who have been deprived of your excellent blog posts the last week from me, please accept my apologies. I was just a wee bit busy because of what the stock market was doing. I'm writing this post at around a quarter after five on Sunday night and the S&P 500 futures are down another seven points before the market is even open. Did I mention it's not good to be an option seller when the volatility index triples? I digress though. It should be another stressful week if tonight's action is any indication. This market was overdue for a pullback, you just never know what is going to spark it. In this case, it was the Chinese stock market selling off over 10% last Wednesday. I'm hoping for a slower week this week, but I'm not holding my breath. Every now and then my life gets turned upside down by these markets. It's the nature of the business. It also will create opportunity for the long term. You just have to weather the storm.

4 Comments:

  • At 7:16 PM, Anonymous Phil Paule said…

    Allan

    From what I read your buddy Jim Gilchrist has an extra $400K in his pocket. Are you helping him invest that ?

    Seriously, where do you think the market is going in the next 6 months.

     
  • At 5:24 AM, Blogger Allan Bartlett said…

    LOL Phil on the 400k! Thankfully I have no hand in that mess over at MMP. They got themselves one big cluster f*** right now with that.

    As far as the stock market, it's probably going to pull back to at least 1320 on the S&P 500 and maybe more. In the short term we are due for a bounce. I don't like stocks for the longer term although one could find a few good ones at any given time.

    I still love the mining stocks and natural resource sector.

     
  • At 8:07 PM, Blogger Joefly said…

    Allan, it was great to see you at lunch. great blog, keep up the good, and important work.

     
  • At 10:13 AM, Blogger Allan Bartlett said…

    It was great to see you to Joe. Let's keep in touch.

     

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