The MacroTourist is on vacation for the rest of the week. Next update Monday, March 16th, 2015.
Quick note: I have actually been on vacation since Monday. I pre-wrote a couple of posts on the week-end that I published Monday and Tuesday. I am following the markets from a distance, but I couldn’t help but post a few quick thoughts.
The stock market is now extremely oversold on a short term basis. It is hitting levels that usually result in a bounce. Although the technicians might be telling you to sell now that we are headed down, take a deep breath and see what happens. There is a good chance we bounce from here.
Apple has jumped the shark. I will write this up next week, but think about how Steve Jobs made Apple the greatest company in the world. He made products that “just worked.” He didn’t make luxury products – he made technology products that saved people time. He refused to make a million different versions of his new products. He made one version – and it was the best. Contrast that to the new iWatch. There are dozens of different versions. The product has poor battery life and its main draw seems to be as a status symbol. Steve is probably rolling over in his grave. The addition of Apple to the Dow Jones Index is the final nail in the coffin. Avoid Apple. The stock is overhyped and destined to disappoint.
Thanks for reading,