A Great GDP Number Is Barely Enough To Spark A Rally. Jobs Will Be An Issue Next Week!
This week, the market is showing some signs of strain. Four consecutive days of heavy profit-taking pushed the market down to the uptrend line that dates back three months. Earnings have been decent, but that is already priced into the market. After beating expectations, stocks have been trading lower after the release. This is an indication that the market is "fully valued". The majority of companies have posted results and since we have heard from most groups, the surprise element is starting to wane. On the bullish side of the ledger, low interest rates, solid earnings growth and "less bad" economic …
October 29, 2009
• Posted in: Options
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