This is a frustrating stock market. The market is pricing in high expectations for Trump's administration and the Republican congress, despite no concrete results being delivered. The advancing stocks are narrow. Investors do not seem to have any conviction.
As a result, the market indices are trading sideways in a narrow band. It's kind of like watching paint dry. Not very exciting.
In addition, only a few stocks (e.g. Amazon, Facebook, and Apple) are are making significant advances. The rest are flat or even falling.
The good news is that most of our accounts are near their highs. The bad news is that these accounts are not achieving new highs. So our accounts are not growing.
For now, I have no confidence in the market direction, nor any confidence that Trump and congress will meet expectations. I will wait for a more clear market direction before putting any significant amount of funds back into stocks.
For more on Reflections and Musings, check back every Saturday for a new segment.
This is not financial advice. Please consult a professional advisor.
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