One monthly $100 deposit and 6 or so days of the stock market either taking a dump or stalling, my IRA sits at $1,217.66. Not counting the deposit, it has gained a hefty 37 cents since last week.
While my other brokerage account with Vanguard has seemed to begin to rally today (or perhaps eek out its final positive breath), this past week has been pretty bland, even depressing. The Dow fluctuated around within a 100 or so point range, and many high profile hedge fund managers and stock analysts have all but braced for impact as they anticipate another bubble ready to burst. The permabears of the group point to signs that look eerily similar to what happened before the 09 Recession.
It's difficult, I believe, for many of those who work in finance to NOT be drawn towards cynicism. When someone makes money in the market, after all, someone else loses money. Many a well-constructed argument has been posed for another stock market slide, but there are those, bear and bull alike, who have pitched their arguments to the wind as we witness the recent record highs both of the S&P and the Dow.
Some say that the market is set to drop but then rebound to new heights, while others see a huge foreign bubble that could wreak havoc on the world's economy.
I guess we'll see, though I personally will be as optimistic as possible while simultaneously doing my best to pile a chunk of my portfolio into defensive stocks.
Best,
Kevin
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