BAGAKOAA June 8, 2010 I’m goin’ up, I’m goin’ down
June 8, 2010 I’m goin’ up, I’m goin’ down
Mathis James, “Jimmy” Reed must have written the song, “Baby What You Want Me To Do”, for a day like today. The rest of that verse goes “I’m goin’ up down round oh baby where you want me to go, yeah, yeah, yeah.” Well, that is what the market did today, passing the centerline more than 13 times before finding some positive energy in the last hour of trading. The techs stayed moribund, but the DOW and S & P were both up about a point.
Nice comments about the economy by Uncle Ben Bernanke may have been the catalyst to get the number up a bit and the small business optimism report was optimistic. Despite my comments to the contrary on Sunday night, there was some equity news today that helped the market. Dollar General, had strong top line and bottom line figures. And MCD was up more than 2% today as same store sales were impressive. It made me glad we have been collecting the stock on the dips.
Cramer was out pimping the good news about McDonalds today in his Action Alert Newsletter, (one of the best for the money), and he had some interesting insight into MCDs growth in Europe and Asia. With a yield of 3% or better, it might be one to add to your pouch if you don’t have any.
We took advantage of the early dips in the day to pick up more AAPL, INTC, UNG on its first drop in several days, BA and FLS. Other than that today was a day to sit on the rail and watch the rodeo, while making sure your name wasn’t called to get on the big bull or big bear or was that a bull?
I did a reality check today and looked at our realized gain or loss since January first. The Salve Lucrum portfolio was down .3% also know as flat. A little disappointing but not bad.