By Dave Fry, founder and publisher of
and author of the best-selling book
April 5, 2010
APPLE IPAD LAUNCH RESULTS MIXED
I have this vision of riding on a commuter train and the person across from me is wired like an alien. With an iPod and an iPhone on either hip, the person plays with an iPad while listening to music and talking on the phone at the same time. It seems far-fetched but it's not. We're a nation consumed by the latest must have gadget. It's good in the sense technological innovation is what America does and consumes well.
Monday was a day for bulls to cheer ISM and Pending Home Sales data plus the launch of the iPad. Some opined initial sales were below perhaps exaggerated expectations. But, it's now a reality and we'll see how it takes hold.
Volume was ultra-light as the entire holiday period doesn't end until sundown Monday. Breadth was as positive as one might expect per the WSJ.
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Volume was as light as seen in a long time, but it was the holiday period. The important thing is markets are on the move higher. Further, in my opinion anyway, we're no longer living in a U.S. and Western European centric economic world. All any investor need do is look at the relative performance of overseas markets to know it's true. And, yes, there will be more volatility and potential setbacks in those markets; but, the major theme will endure. The West is in decline demographically and economically. On the rise are Asia/Pacific, Latin America and even Africa (if they stop killing each other). Younger growth oriented investors need to adjust their portfolios to this future reality.
Tuesday will bring more volume and perhaps some profit-taking as things are moving faster than they should. It's part of the process. Also on tap will be the release of Fed minutes which should be interesting and perhaps market moving.
The last thought on the day comes from an article in the
which, for them, hints how large the U.S. government is becoming. For me, it's too damn big like an aggressive cancer.
Let's see what happens. You can follow our pithy comments on
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Dave Fry is founder and publisher of
, Dave's Daily blog and the best-selling book author of
, published by Wiley Finance in 2008. A detailed bio is here: