With respect to Twitter (the social network - if you haven't heard of it you've been living under a rock), the company came "Public" this morning which means they offered stock to the general public where if you want to own shares of the company you can. My feelings on buying the stock this morning or any time in the near future can be summed up with this:
#I'm not touching it
The stock was priced to come public at $26 but instead it came public at $45 which I think is overpriced...I view this company as similar to Facebook and how Facebooks stock performed when it came public; It was supposed to price at $24 but came public at $35; we didn't buy the stock at the open and held off on buying stock for several months and when we eventually did we got it on sale for $22!! I think people will have the chance to buy Twitter stock at much lower prices over the coming months if that's what one desires.
As I've been writing for sometime, I think the stock market is ripe for a selloff and thats why we've been taking profits and moving towards the sidelines as we await stocks to move down in price and at that point we will look to get back in the market. Today for example the markets opened up nicely but they have reversed to the downside with the financial sector leading the selloff (remember as the financials go the market usually follows).
Overnight, the ECB (the European Central Bank) decided to lower interest rates to .25% as they are looking to help economies of European countries continue to grow (when banks lower interest rates it makes it easier for companies and individuals to borrow money at low rates - of course). As I've written I still see European markets/stocks as favorable places to invest at this time.
#that'sitfornow
