Skip to comments.Stocks on Brink Of Breakout [Gentlemen, Start Your Engines?]
Posted on 07/25/2010 9:30:06 AM PDT by Steelfish
Stocks on Brink Of Breakout By REUTERS July 25, 2010
NEW YORK (Reuters) - Wall Street enters this week on the cusp of a breakout in U.S. stocks, but it will need another spate of convincing earnings reports to feed the rally that sprouted at the end of last week.
The markets endured malaise with poor economic data and downbeat testimony from Federal Reserve Chairman Ben Bernanke on Wednesday, but turned decisively after a number of strong results pointed to better times ahead.
This week brings more results from bellwethers including Chevron, DuPont and Boeing. The trick will be turning the whipsaw action into accumulated gains -- and hoped-for improvements in volume -- that would signal an upturn in sentiment.
"There's a constant struggle between the bulls and the bears when in fact the answer is in the middle ground. This market is more like a turkey and not a bull or a bear," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Fund Management in Menomonee Falls, Wisconsin.
Investors have been forced to readjust their expectations for the economy, with data showing the pace of the recovery has gone from a sprint to a crawl.
(Excerpt) Read more at nytimes.com ...
When folks start talking about a “breakout,” that’s usually when the market collapses.
Why is this guy pimping NY Times propaganda stories? There is no economy. No businesses are hiring. I talked to a guy and he said semiconductor business is good because of phones and portable devices but that is it.
How could this idiot of a paper print this crap as though everything from here on in is going to be
When the data spells trouble, don't adjust the stock price, just adjust your expectations.
Given that this propaganda came from the NY Times, I’d be wary of buying anything right now. Most Wall Street traders are NOT meeting the their numbers so far this year so be very careful.
” Stocks on Brink Of Breakout “
This will sure come as a great comfort to the twenty-some-percent of us who are either drawing unemployment, or are ‘lucky’ enough to be pulling down subsistence wages...
Thanks, Obama and Dems...
It is not that hard if you know what to look for.
Blame idiots who watch TV. The 5 TV networks own 95% of cable channels and they all support him. The NFL, MBL, NBA, NCAA, ESPN and other idiot entertainment supports him 100%.
The Liberals at the NY Times trying to boost optimism.
Nothing Obama has done will be good for the market. Nothing will be good for employment.
Everyone knows that the government lies about the real unemployment statistics, by not counting anyone who is unemployed for more than six months as unemployed, and by counting temporary census jobs two or three times - an Obama innovation.
I stop counting somebody as unemployed when they find a job.
The real measure that we should look at is labor force participation, which has not been tampered with too much, although they still count these worthless government and census jobs... which paper over a bit of the reality.
Labor Force Participation - the real employment/unemployment statistic is at its second lowest level in history. Both times happened under Obama.
The Stock Market will be under 5000 by Halloween.
The boom before the bust. Customer confidence in the economy does not justify this expectation. Unless it’s just investors goosing up each other waiting for the suckers to take the bait.
QE2 coming? Bet cha so.
they think that lying it up will fool people in voting for them.
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