I Don’t Care Mode

Will the market go back into “I Don’t Care Mode”?

This is the question investors must ask themselves if they’re playing this week. Other than constructive housing data that continues to dribble in, all of the other news is complete and total ass. But will it matter?

Take the Moody’s downgrade of France last night. That’s quite a thing, non?

Or the massive admission of accounting fraud at HPQ that’s dragging the Dow component down to price levels not seen since the Wright Brothers were inventing flight as a means of peeping in through ladies’ windows.

There’s more – we could talk about the historic lows in iconic, formerly-important American retailer stocks like Best Buy and JC Penney’s – both cratering just ahead of the holiday season.  But you know all about that.

We could also talk about that big jump in weekly jobless claims from last week, but we’ve already dismissed that as Sandy-related.

We could also mention the fact that yesterday’s rally began under false pretenses on Friday and then fed on itself as shorts were caught leaning too hard.  Those false pretenses being the innocuous-on-the-surface statements from our political leaders. By not announcing some sort of Thunderdome-esque rape-and-kill match, markets took the blandness in their meaningless words as a positive. This despite the fact that no deal is expected to be announced until just before Christmas!

But we won’t harp on these issues. Instead, we’ll look to see if the holiday week means another round of “I Don’t Care” in the markets, another spate of “well, the Fed is underneath so whatever.”

This morning’s open would indicate that this is exactly the environment we’re in once again. I suppose I’ll do very little and try to enjoy it for the moment.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers

Please see disclosures here.

What's been said:

Discussions found on the web
  1. tải nhạc chuông commented on Sep 14

    … [Trackback]

    […] Find More here on that Topic: thereformedbroker.com/2012/11/20/i-dont-care-mode/ […]

  2. edubirdie reviews commented on Sep 14

    … [Trackback]

    […] Info to that Topic: thereformedbroker.com/2012/11/20/i-dont-care-mode/ […]

  3. cach soi keo bong da commented on Sep 15

    … [Trackback]

    […] There you can find 85952 more Info to that Topic: thereformedbroker.com/2012/11/20/i-dont-care-mode/ […]

  4. pinewswire.net commented on Sep 23

    … [Trackback]

    […] Info on that Topic: thereformedbroker.com/2012/11/20/i-dont-care-mode/ […]

  5. retro sweets commented on Sep 29

    … [Trackback]

    […] Read More on on that Topic: thereformedbroker.com/2012/11/20/i-dont-care-mode/ […]

  6. Click here commented on Oct 26

    … [Trackback]

    […] Read More Information here on that Topic: thereformedbroker.com/2012/11/20/i-dont-care-mode/ […]

  7. Intelligent automation experts commented on Nov 28

    … [Trackback]

    […] Information to that Topic: thereformedbroker.com/2012/11/20/i-dont-care-mode/ […]