Perhaps it was the new senator from Massachusetts who let the bears out, but I suppose it was a bit more than that. When the week began on Tuesday, after the Martin Luther King holiday, the bulls were grazing happily on GARP stocks, as contented as California cows. But then somebody opened that gate, and the bears roared through and the bulls ran for cover.
It wasn’t exactly a massacre, but it was far from pretty. Consider that the best style/cap, Small-cap Value, was down 4.3% and the worst, Large-cap Value, was down 5.2%. Obviously, all style/caps were ravaged, and the week’s carnage wiped out everything we had accomplished since Santa Claus came in December. Read more…
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Categories: What the Market Wants Tags: AAPL, AMTD, AZO AFL, BAC, C, EGAY, Manic Mondays, MS, NTRS, NVO, PH, RIMM, SCHW, sectors, WFC
by David Brown, Chief Market Strategist
David Brown
(Monday, October 12, 2009 4:55 pm) All major indices closed at or very near 2009 highs on Friday as the week featured a combination of better-than-expected economic news and a sprinkling of early earnings announcements on the plus side. From a technical perspective, the market is extended as the Dow reaches for 10,000 and the S&P500 aims for 1,100. Will it breakout now…or take a breather and wait for good earnings reports to provide the fuel to propel it? This week should provide some clues. Read more…
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Categories: What the Market Wants Tags: ABT, AMD, Biotechs, C, COST, energy, financials, HE, HITK, INTC, JNJ, JPM, market stats, MyStockFinder, PRE, SCHW, SectorCast, sectors