Stocks rallied today boosted mostly by the positive new on GDP and the job number. I don't have any faith in this rally. I look around, and I see weakness all over the place. I see weakness at work, hence the layoffs, and I work in a market segment that should be ahead of the economy. I see weakness when I just pay attention to the things around me like people talking about how they are struggling, rising prices, or people I know out of a job.
I am still circling, trying to figure out how to deploy my cash that is sitting on the sidelines. I am looking closely at the financials, which have rallied very strongly over the last and have made me less interested. I even would like to look at a few select retailers. Expectations in these two sectors are quite low, so there might only be upside. However, I do believe that the worse for the economy is only ahead of us.
The housing market still has a ways to go down from here. I look around where I live, Southern California, which is supposed to be the epicenter of the housing crash. I still don't buy at these levels. I've seen houses still trying to sell for MORE money then they sold just two years ago. I have a strong desire to buy, the capital, and the income to be able to buy, and I still have no plans on buying.
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