Fear Beats Greed

Today both Apple and Intel put up great results, following on superb preannounced results from IBM. The result: both of the former took a bath.

This is a strong sign that investors are just looking for reasons to sell, and, whatever the reason which comes next, the answer is going to be, “sell.”

If fear and greed are the two great market motivators, fear has charge as the year begins. It’s going to be tough making money long in stocks this year.