Big News Next Week - Be Patient - Wait For Dips!
The market is very resilient and yesterday it reversed early losses. Once again, bears were punished and the market closed near its high on light volume. GDP and initial claims came in as expected and that news was not bad enough to justify the decline. It looked like profit taking was the culprit. The bond auctions this week have gone well and interest rates are low. That is good for equities since it keeps the cost of capital low. Low yields also force investors to look for better potential returns in the stock market. This morning, Intel raised its third-quarter outlook. …
August 28, 2009
• Posted in: Options
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