In the stock market, sometimes you are the windshield and sometimes you are the bug. I have to say that yesterday and the last few weeks, I (along with my clients) have been the windshield. In life, sometimes you are blessed and sometimes cursed. Yesterday was one of those blessed days.
The Elephant Man
In one day, I was interviewed by Scott Gamm of The Street where we discussed the recent ABCs of Trading Paper that I coauthored. Then I had an impromptu conversation with Kevin Miles, CEO of Zoe’s Kitchen (ZOES). I told him that in my opinion, Zoe’s was going to be the next Chipotle Mexican Grill (CMG), as I have publically stated on Bloomberg Radio. Then I took a trip to Midtown (via the old reliable MTA) where I spent some time and had an early lunch with colleagues / friends. Following lunch, on a walk in the rain to the Theatre District, I was interviewed over the phone by a reporter for a Gateway Chamber of Commerce article (yet to be published) regarding NY/NJ economic and business forecasts for 2015. At 2PM my wife and I caught a Wednesday matinee of the revival of The Elephant Man with Bradley Cooper, Patricia Clarkson and Anthony Heald. After the show we had a wonderful dinner at Joe Allen’s (a well-known Broadway restaurant) with the Healds. It is not that Bradley Cooper wasn’t welcome but we wanted to keep it a family affair. You see, the Healds are members of the family (on my mother’s side for those of you who don’t have a Rothbort Family Playbill). By the way, Nick H – Tony sends his regards.
The Elephant Man is on a limited run and I strongly suggest (my personal family prejudices aside) that you consider catching the show and its wonderful cast while you can. If only the New York Times (NYT) would publish my review.
Stock Market Marking Time ‘Till Friday’s Labor Report
All the while, thanks to my trusty Apple (AAPL) iPhone, I was in close contact with the markets and even managed to make a few transactions along the way. It was a slow motion day for the markets, which except for a few minutes, was in the green with the major averages closing less than 40bps in the plus column. Energy shares continued to rebound, thanks to cheap prices and analysts’ upgrades. As I have written on these pages, I am looking to commit capital to energy. I have been performing some research and making some calls around the street. By next week, I expect to have a strategy in place for energy investments.
As for today, I am expecting much of the same action as for Wednesday. The reason being that there is no reason for institutional investors (who control the markets) to make any moves ahead of the labor report on Friday. If anything, I expect some shorts, i.e. hedge funds to cover some positions today.
If all that media coverage was not enough, I have an interview with WABC 770 AM Radio today to discuss what is happening to the “American Dream.” Hopefully in Friday’s commentary I will have a link to the interview.
Disclosure: At the time of this commentary Scott Rothbort, his family and/or clients of LakeView AssetManagement, LLC was long AAPL, CMG & ZOES — although positions can change at any time.
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