A Roller Coaster Market
June 25th, 2009
This market has been pretty erratic over the past week. I have heard various commentators speculate as to why the market is up or down on a given day. At best these are simply guesses. It appears that the market is searching for direction. Stocks are nowhere near their highs of a year ago and are well off their lows from March of this year. While there are some examples of stocks that are trading too high and some are too low; Could it be that most stocks are not overvalued or undervalued but are at their appropriate valuations? This is truly a stock pickers market because there just aren’t that too many screaming buys out there. It is difficult to find many stocks that appear to be undervalued on their current earnings basis.
