Lots of Noise

A number of things were thrown at the market today but the declines were inconsequential.

While oil prices fell to their lowest levels of the year, disappointment over hope for an interest rate cut following the FOMC minutes and earnings disappointments kept the bulls restrained. Terrorism fear also played a role this afternoon after a small airplane crashed in a New York building. Meanwhile I made a couple of trades while trying to avoid all of the today's noise. In this environment, that seems to be the key.

Believe it or not, as I write this snowflakes are starting to fall outside my office window. And, so, another long Minnesota winter begins. On days like today I'm reminded of one of my favorite Hawaiian rules which is to never judge a day by the weather. See you tomorrow.