Were on the Conference Calls and our traders will tell you which is the better to buy. And Goldman Sachs said stocks are going nowhere next year. But we have stocks poised to break out in a sideways market. But the surprising reversal in the market today. Traders woke up to a sea of red. The dow was down over 100 points following the news of a downed russia jet near the border but by noon it was up and people at home are looking at screens and saying why is the market ignoring headlines on geopolitical unrest. I know, i have personally spend a lot of time, inordinate amount of time trying to figure out what is the next shoe to drop. I dont want to be caught off guard like i was in 08 and 09. You look at the next event, is this it that will final finally take the market down. That is what im looking for. As surprised as it is to folks at home, it shouldnt be that surprising because the last six years weve looked past every piece of negative news and had days like this that turned into w
It is the top of hollywood. That is designating health care rights, coming to light in explosive new Court Documents as the battle for the media empire heats up. We have a special report on this intriguing new stories and why shares of viacom rallied today. But first a handful of stocks. Nike, home depot and lowes, hitting a twoweek high into the make or break time for the consumer. Grasso, the xrt, 50 day moving average, i know you like levels, is that good news for retailers. It is. It is a problem because when you look at names that are isolated that are a handful doing well. We know the names, home depot and nike. Amazon. The ultimate Consumer Discretionary name up 117 yeartodate. Home depot is over bought on rsi, relative strength index. It works it off nicely. When it does work it off, it makes another new alltime high. When you look at nike, does the same type of thing. So you see these people, investors of which im one, exit the trades an then rush right back into the same name
Like caterpillar, ibm and walmart. Check out gopro, twitter and 3d systems catching the bid here. Is this the dash for trash. Do you buy the trashing names into the end of the year. Guy, what do you say. This is a quick trade. Whole foods markets up huge. Abercrombie and fitch off a huge move up again today. So is there still room on the upside . Probably yeah, because the shorts are still covering and people absolutely chase. But these names have been beaten up for a reason. And the cream rises to the top and the opposite is true as well. They will come back to earth. Specifically ibm. I think abercrombie and fitch is getting toward levels you want to pull the rip cord as well. And you cant fade this. Because day like tomorrow, light volume, buyers typically have their way, they will have their way tomorrow. It was light volume today. You pointed out that, dan. Low volume. Since the day after thanksgiving. We know the market or stocks had pressure, poorly performing in this month. And
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