Tuesday, December 29, 2009, 9:25PM ET - U.S. Markets Closed.
Ahead of the Fed's rate decision Wednesday and Friday's jobs report, the market is taking a dip Tuesday amid data showing falling consumer confidence and rising foreclosures. (Hmm, you think there's a connection?)
Further testing the bulls' mettle is the latest setback for big pharma: Merck shares are tumbling after the FDA rejected its cholesterol drug Cordaptive, a decision that also weighed on shares of Eli Lilly, which has a similar product in its pipeline.
On the flipside, Watson Pharmaceuticals was rising sharply after the FDA completed an inspection of its Davie, Fla., manufacturing plant.
Further signs of optimism could be seen in Corning's better-than-expected results and guidance, while Visa was shaking off concerns about its guidance. Very strong results from Mastercard probably helped Visa's cause.
Stepping back from the daily action, the market has come a long way since the mid-March lows, and it's probably not a coincidence the S&P 500 is faltering a bit after yesterday touching 1,400, the top of its longstanding trading range. Wednesday's Fed decision could be the catalyst for the market to finally break above 1,400 in a meaningful way, although overly optimistic earnings expectations remain an obstacle to a sustained rally.
Forget about the bulls. Increasing gas prices, increasing food prices, increasing unemployments, decreasing dollar values, decreasing housing values etc. Its testing everybody's mettle. Those guys over in Wall St. don't care. They are making enough to ensure they get their big bonus. Since the ralley is starting to flat out, they will start to short the market and make some more money on the way down. If NASA wants to study another planet why don't they to go down to Wall St? Its much cheaper and nearer to home. They might even discover life there. Sorry, blood suckers are not life.
Geoff, you are so full of crap it's coming out of your ears. Why don't you just tell people to buy high and sell low! I suppose nobody knew what you said? Nobody times the markets correctly consistently, and you are a liar. I might believe you if you are referring to a short time period. And I am a CFA, so please don't try to give me some lame argument that might work for your typical retail investor.
Even in light of all these bad news, the bull is still bending the market back up. How long do you think the bull can hold the market at its present value? If the market falls, there is no good fundamentals to hold it up which is bad news for everybody.
I basically agree with Geoff's strategy - be in the market. Period. That enables you to sell high and buy low. Only thing here is - I bought some of my positions when the Dow was at 15000. So how long am I going to wait to sell the losers? Do I sell them now where the Dow is at 12.887 which would mean I am selling low or do I wait until the market goes to and beyond 15000 just to get my money back? I wished Geoff could tell me when and how to beat the averages consistently.
I basically agree with Geoff's strategy - be in the market. Period. That enables you to sell high and buy low. Only thing here is - I bought some of my positions when the Dow was at 15000. So how long am I going to wait to sell the losers I bought then? Do I sell them now where the Dow is at 12.887 which would mean I am selling low or do I wait until the market goes to and beyond 15000 just to get my money back? I wished Geoff could tell me when and how to beat the averages consistently.
Retail stock have had a good run in the last couple of weeks. Can someone explain? Anticipation of these tax checks? Is that it?
I basically agree with Geoff's strategy - be in the market. Period. That enables you to sell high and buy low. Only thing here is - I bought some of my positions when the Dow was at 15000. So how long am I going to wait to sell the losers I bought then? Do I sell them now where the Dow is at 12.887 which would mean I am selling low or do I wait until the market goes to and beyond 15000 just to get my money back? I wished Geoff could tell me when and how to beat the averages consistently.
People read the head lines and wake-up!
I like this actually being able to talk back to the iTV. Hank you are my favorite internet personality to hate, you are funny because your lips move faster than your brain. Keep up the good work.
Dear rehrer8, Don't hate me because I can beat the averages, and to the other person who doesn't like me but doesn't have the courage to divulge their name, just go to www.profitable-investing.com for proof. If you open your mind you just may be able to squeeze a different way of investing in there. One thing to keep in mind, big losses start as small losses, cut them early. If you just threw darts at IBD, cut losses early and added to winners you'd beat the averages. Just because you don't know how to do it doesn't mean it can't be done.
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__A_YAHOO_USER__ - Tuesday April 29, 2008 01:26PM EDT
Everything tests the bulls, everythings tests the bears. The best strategy is to be in the market when it's going up, out or short when it's going down. We time the market for tradeable moves and we beat the averages consitently year after year. Check out our weekly best stock picks at www.profitable-investing.com