Merger Monday Provides A Boost - Expect Choppy Trading - Stay Bullish!
Interest rates and earnings drive the market. Yields continue to drop and last quarter’s profits were much better than expected. Last week, the Fed stated that they would remain accommodative. Low interest rates are good for corporations and consumers. After the news was released, the market rallied a bit and then staged a key reversal. Stocks closed on their low of the day Wednesday and that set up technical selling on Thursday and early Friday. By Friday’s close, the market found a bid. Earnings season will start up in two weeks. This recession is more than a year old and that …
September 28, 2009
• Posted in: Options
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