Lots of back and forth action this week, without any real pattern. Good market for traders. The more time we spend at these levels, the more confidence returns back to the market. I'm seeing much more bullish commentary and buying amongst small traders compared with this time last week.
Berkshire Hathaway is joining the S&P 500 today, so there is a lot of talk about that stock. I like their businesses and I like Buffett. Whether the stock is a good deal, I couldn't say, as I haven't looked too hard at it. My guess is the stock will make a run over the next few weeks though as many will look to ride the wave of the index funds who are buying in. Berkshire also closed on the Burlington deal today. I like the rail space moving forward, but as many have reported, Buffett paid fair value for BNI. It almost felt like Buffett was just committing a huge amount of capital to something he feels good about for the next few decades in case he's not around (he is 79).
Lots of uncertainty around Greece, Dubai, and China. Any of these issues could shake the market, but any impact on the market will probably be short lived.
I'm still pretty bullish, but have been taking my time and buying small amounts of shares at a time.
The market is closed Monday, so enjoy the long weekend.