Market Talk
This feels like a market priced to perfection.
In this environment, good news is already baked in.
Great news barely gets rewarded.
Anything less than perfect gets sold.
Even institutions are trading short-term.
Look at what happens now.
A company can report strong earnings.
Strong cash flow.
Raising dividends.
Buying back stock.
And the stock still pulls back.
We saw this recently with Kinross Gold Corporation.
Blowout earnings.
Record free cash flow.
Dividend increase.
Buybacks.
Strong balance sheet.
Yet the stock was sold in the short term.
That doesn’t mean the company is broken.
It means the market is demanding perfection — and trading around positions.
This is a market where:
Leaders get used as ATMs.
Laggards get quick bids.
Quality gets temporarily ignored.
Patience gets tested.
Funds are not necessarily exiting.
They are rotating.
Buy. Trim. Rotate. Repeat.
Day trading… with billions.
This is a market for discipline.
Sometimes it calls for trading decisions based on personal awareness of new market dynamics.
Risk is not always rewarded.
Some positions may need trimming for self-preservation —
so you can fight again in a better climate.
Sometimes it may be better to hold more dry powder,
to maintain your personal arsenal
for when the skies clear.
Some stocks take quiet conviction
when the one-day-wonder crowd trades away a great company.
Those same traders often regret it
when a staggered staircase chart climbs on real fundamentals.
For investors, this is one of the hardest markets.
You can be right on the company.
Right on the numbers.
Right on the outlook.
And still be early —
or feel late in a market that keeps moving the goalposts.
That doesn’t mean you are wrong.
It means the market is distorted.
These “perfection markets” don’t last forever.
Eventually, fundamentals matter again.
Cash flow matters again.
Balance sheets matter again.
When that happens, quality usually leads.
Until then, expect noise, frustration, and constant rotation.
This is not a market for emotion.
It is a market for discipline.
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More later so ....Stay tuned, if you dare!
For now, we close by noting that any view on the market and stocks on any particular day may change in the days to come. That is why we watch and see how our views match up with reality. Looking ahead a few months may be a way to do things - but thinking too deeply about world events and the recent alliances forming, can make projecting ahead a dicey endeavor.
All in all - we use the word maybe "some", not "too much" and play it accordingly. Never get arrogant in our notions because things do change - and individual stocks are subject to many factors outside our control. So, we try to -stay aware.
With all the above caveats and attempted prognostications, I will close this post. Stay tuned for more opining on the market and stocks to watch.
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