Too Big Spreads In Big Cap Stocks

The amplitude of 12-month price changes range above 100% for stocks like Citigroup, Macy’s and Amazon. 

MS 174.94

AAPL 277.169

AMZN 258.161

Price ranges do exceed 100 points for stocks like Amazon and Apple with large percentage changes for Morgan Stanley and Microsoft, too. A busy setting. 

In many stocks we own,  price spreads do exceed 100 points. I’m thinking of Amazon, Apple, as well as financials like Morgan Stanley. Low priced Macy’s remains a cheap play on retailing recovery. Amazon shows late foot. Microsoft blows hot and cold, enough for me to avoid it for now. 

Macy’s hangs in for me. Retailers can’t levitate without it. I no longer wax empathetic on bank stocks but hang in with Morgan Stanley. I thought Berkshire was ready to carry me, but now I’m not so sure. 

There're too many fade-ins and fade-outs in financials to keep me happy. I’m not ready for airlines and Boeing,  which leave me cold. What’s next to take me to the moon? I dunno. 

I’m seeing too many daily and weekly upsets in prices for high intensity pieces of paper. It keeps me from getting carried-away in prospectively big winners like Microsoft, Apple, Eli Lilly, Berkshire, Google and Goldman Sachs. Who’s going to take me to the moon tomorrow?

Is it Goldman Sachs? I think it should be up 15 points, not down 15. I’m waiting for Berkshire to act better and ditto for Apple’s sinking spells. Why the weakness in J.P. Morgan? I’m going with Morgan Stanley, but it acts shabbily along with Berkshire. Why has Google left me cold? Why Apple but not Berkshire?

Goldman Sachs can drop a snappy dozen points overnight. I want to love American Express,too, not watch it fold several points. 

All this is by way of saying the market is temperamental and bound to crush some dreams. I’’m seeing big point corrections in stocks like Morgan Stanley. Bank stocks like J.P. Morgan are wishy-washy to me. Maybe their valuation is too pricey. I’m sticking with Morgan Stanley and Amazon. 

The amplitude of price changes can range over 100 percent in stocks like Citigroup. I thought I’d see Berkshire soothing me, but I’m no longer pounding the table. 

The market is telling us something. It’s very tough to keep outperforming. Too many price upsets in tech like Microsoft and American Express. Apple is good but Berkshire is a baddie. 

In short, there is no theme of late to grab onto. 

Yes, I know.  Mom never offered me a blooming rose garden, but what we’re getting lately is stutter steps, not musicality.