JANUARY 31, 2008: Stocks rallied strongly today on good volume but today’s strength came from the beaten down retailers, home builders, and financial stocks. The laggards are not the kind of stocks that can lead a sustained rally. Mastercard was up 10% on strong earnings. Amazon.com beat earnings and sales expectations and sold off in the morning but recovered later in the day. Google missed expectations and was down $35 in after-hours trading. The Nasdaq is down 9% for the month of January. Stimulus packages, multiple rate cuts, bail-outs, etc. have failed to change the direction of the markets, which is now decidedly down. Counter-trend rallies during corrections are by no means a signal to jump back in the markets. Bear market rallies can be sharp to the upside and come back down even faster. It’s best to wait for a ‘follow-through’ day before committing money to the long side of stocks. More info at www.goldenticker.com
Here’s a sign of the times. A company that helps you just “walk away” from your home and mortgage payments. I understand that business is booming. Click on the above image to go to their site. You won’t believe what you see.
Laggards Lead Stocks Up
By goldenticker.comJANUARY 31, 2008: Stocks rallied strongly today on good volume but today’s strength came from the beaten down retailers, home builders, and financial stocks. The laggards are not the kind of stocks that can lead a sustained rally. Mastercard was up 10% on strong earnings. Amazon.com beat earnings and sales expectations and sold off in the morning but recovered later in the day. Google missed expectations and was down $35 in after-hours trading. The Nasdaq is down 9% for the month of January. Stimulus packages, multiple rate cuts, bail-outs, etc. have failed to change the direction of the markets, which is now decidedly down. Counter-trend rallies during corrections are by no means a signal to jump back in the markets. Bear market rallies can be sharp to the upside and come back down even faster. It’s best to wait for a ‘follow-through’ day before committing money to the long side of stocks. More info at www.goldenticker.com
Here’s a sign of the times. A company that helps you just “walk away” from your home and mortgage payments. I understand that business is booming. Click on the above image to go to their site. You won’t believe what you see.
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