Reader Roger had these comments regarding an article he submitted with the title “Is the market ready to roll over?” The above article makes a pretty strong case indicating the market is about to reverse direction based on a large number of technical indicators. Of course this conclusion is based on the supposition that past market movements forecast future movements, …
No Load Fund/ETF Tracker updated through 10/21/2010
My latest No Load Fund/ETF Tracker has been posted at: http://www.successful-investment.com/newsletter-archive.php Selloffs and rallies were the name of the game, but the major indexes closed up slightly. Our Trend Tracking Index (TTI) for domestic funds/ETFs moved above its trend line (red) by +6.52% (last week +6.62%) and remains in bullish mode. The international index has broken above its long-term trend …
Good Rebounding Effort
Whenever you witness a sharp selloff, such as we’ve seen on Tuesday, the question pops up as to whether this will be the beginning of a trend reversal or simply a shock reaction to a certain event. Judging by yesterday’s rebound, it appears to be the latter, as the major indexes found some footing and almost wiped out the previous …
Shocking The Markets
A variety of news events combined forces yesterday to pull the major indexes off their lofty levels. In the mortgage fiasco arena, Bank of America was sued by a consortium of investment firms and the New York Fed to force the bank to buy back mortgage backed securities worth some $47 billion. This will be just the beginning in an …
Rising On Expectations
Heavyweights Apple and IBM beat Street estimates yesterday, but it wasn’t good enough to appease the investing community. Subsequently, shares sank in afterhours trading, although the market had risen prior because of high expectations. To see how nutty market reaction can be, you only need to look at how Citigroup was cheered, even though their real earnings were dismal but …
Daredevil Central Bankers
Have bankers’ attitudes changed? MarketWatch seems to think so as featured in “Get ready for daredevil central bankers:” We have come to expect our central bankers and policy experts to be gray, predictable and eager to take away the punch bowl once the party gets going. So when they showed up at the Boston Fed conference on monetary policy in …