And out industrials, which youll be getting more for months. Since then, weve seen honey well, United Technologies reports, along with a usually disappointing preannouncement. Yet after an initial dip, they all went higher. Only ppg proved to be better than expected and that just kept them from flying. Today, though, we got excellent numbers from boeing and General Motors and that reinforced the group that this group is too important to ignore. My job is to explain whats happening in the stock market. Because of worries about World Economic weakness, worries to keep Interest Rates lows, Portfolio Managers underweighted this group dramatically or sold far more than what they should have against what had been the benchmark in the s p. They owned 8 . This underweight situation coupled with the fact that many Money Managers are just now warm ug up to the notion that theyre improving, the Chinese Consumer is start to go buy goods again. All these sign ves made the Portfolio Managers frantic
Thmarket hated themm so mumu that the they became incredibly oversold. Meaning they kept going down and down and down to the point where it seemed to be sunk. Then out of nowhere, a couple of things h hpened and the big Portfolio Managers, something changed their view from bear stocks to bullish in the blink of an eye. For starters, General Electric had a onetwo punch. Got the endndsement ofelson pells and the only one of his kind who, if you consistently followed him, you beat the market even if you bought the position after it was announced and aftete it spiked and he got involved buying a ton of stock. True to form gd stock has been roaring ever since. Last friday, ge stellar quarter, no fly. Thatas theignal that thehes w an appetite for these down and out industrials, which youll be getting more for months. Since then, weve seen honey reports, along with a usually disappointinin preannouncement. Yet after an initial dip, they all went higher. Only ppg proved to be better than expec
But only for a few days before the market loses interest and moves on to some in you theme. Consider stocks like United Technologies, honey well and boeing and ppg been they were loathed. The market hated them so much that the they became incredibly oversold. Meaning they kept going down and down and down to the point where it seemed to be sunk. Then out of nowhere, a couple of things happened and the big Portfolio Managers, something changed their view from bear stocks to bullish in the blink of an eye. For starters, General Electric had a onetwo punch. Got the endorsement of nelson pells and the only one of his kind who, if you consistently followed him, you beat the market even if you bought the position after it was announced and after it spiked and he got involved buying a ton of stock. True to form gd stock has been roaring ever since. Last friday, ge stellar quarter, that was the signal that theres now an appetite for these down and out industrials, which youll be getting more f