While I am uncertain of the short term direction of the markets, due to the
- ugly reaction to the Facebook IPO (which will serve to further deter investors from buying stocks)
- the continued financial crisis in Europe
- whether or not Greece will exit the Euro (but they have until June 17th to get their government together)
- the social unrest and fighting in Syria
- the negative press and despise of the financial thanks to some botched trades, as well as recent spotlight on how much the CEO's are getting paid despite poor corporate performance
- Lowe's came out this morning and lowered guidance for the remainder of the year b/c they are unclear as to what the building products retailer will perform
I still remain overall positive on my outlook for the U.S. economy and stocks for the remainder of the year. Because of such, I made a few small stock buys today in the markets with Ford, Etrade, Chimera, KKR Financial, and Dell. I also picked up a few shares of U.S. mutual funds for some clients.
While it's been a good up day for the markets, we'll see if there will be any follow thru tomorrow and for the rest of the week..this will be important to watch considering the end of April and the month of May have been horrible for stocks.
We shall see
