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Expectations are low for corporate earnings and macro economic growth. The only places there might be too much enthusiasm are housing and automotive.
Bonds are beginning to falter, and while predicting their demise has been the wrong prediction for thirty years it's a lay-up to say there is very little upside and a ton of downside to owning bonds from here on.
The Dollar is beginning to slip as the Euro is now at a 9-month high and looking strong as Europe continues to pull the rug over its problems and perhaps wool over their own eyes.
The global economy is still the core of my belief for owning stocks. Forget Paris, unless it's a vacation destination (I never liked it but my wife loves the place), and the rest of the Continent and think Turkey, Mexico, Panama, Chile, Indonesia ... think "Global Economy," not just America and Europe.
On that note the trade deficit came in worse than expected at $48.7 billion the widest gap since April of last year.
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There are longer term issues to worry about big time but right now I think 2013 could be big for making money in the stock market. Not a walk in the park, not without drama, but a focused effort on value and timing should create a lot of fortune. And on that note we are not forcing any new ideas at this moment, there are a ton of ideas we are researching, however.
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