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OPINION

Summer’s Here

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
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Summer Kennedy, the 2014 Playmate of the year, is a fierce day trader who gets up at 5AM in Los Angeles to trade stocks and share ideas on Twitter. Some would say that’s the sign this market is ready to flop.

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So, what is the biggest sign this market is ready to pullback?

Summer Kennedy trading

Big boys like Carl Icahn warning

The Fed Hiking Rates

Some Other Black Swan

I would like to hear your thoughts. Here are mine: the market is due for a pullback, but this is NOT the year 2000 for a myriad of reasons, but mostly the construction of leadership in market and earnings. In other words: these are real companies with real growth and earnings.

Just think about this, the NASDAQ is up a couple of percentage points over the last 15 years; that doesn’t sound like a bubble, it sounds like maybe there is huge potential to the upside as Facebook leads the way and not Pets.com.

(By the way, Summer Kennedy will be on my show “Making Money with Charles Payne” next Monday, June 29th).

It’s still all about Greece this morning. The clock has actually moved past midnight, but since the entire episode is in the Twilight Zone, all the rules, including logic and the time-space continuum, have been erased. The standoff, however, can only end with Greece swallowing its pride and making real reforms.

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It means the market will be shaky for some time. However, once this epic saga ends, it will be on to the Fed saga which will test all the motherly skills of Janet Yellen as she cajoles, coddles and cradles Wall Street even at the risk of blowing up Main Street. Welcome to summer madness!

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